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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (64482)8/4/2020 7:41:57 PM
From: Grommit  Read Replies (2) of 78925
 
MNR and UMH. These companies are financially related and I generally avoid these situations without exception. But i bought MNR pref shares, hoping that they are a little removed from the issues. they own each others common stock, the founder of MNR (E. Landy age 86) is still chairman, while his children are CEOs of each company (Michael on UMH 58, Eugene on UMH 59). They have poor ratings on corp governance -- for compensation, board, shareholder rights. They call themselves "related companies" in the disclosures, but conflicts of interest are not disclosed. none? It can be acceptable to found a couple of companies and install competent children in mgmt, but why go beyond that? yuck. (I also avoid companies where the board members and officers have the same last name.)
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