Harvey,
I can't imagine why they would sell the surety biz, unless it has something to do with the "Elrod Investigation." Then again, I have to admit that I scratch my head a lot with this stock. For instance, from the press release:
Genesis
International Financial Services, Inc. (GIFS-NASDAQ-BB), announced
today that it had received a term sheet supporting an international group
of prominent individuals and at least one financial institution's offer to
syndicate the purchase of GIFS' major operating unit.
What does "syndicate the purchase" mean? Why don't they just say "purchase?" At any rate, to me the wording of the release points to the surety biz, though like you, I can't fathom why they would sell that. One thing you have to grant this stock; It may be a strange one, but it's seldom dull. |
