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Technology Stocks : Allen-Vanguard Rescue Board -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (390)	10/6/2009 8:22:22 PM
From: beaverfever	1 Recommendation Respond to of 724

That RBC loan was just way too tough on Allen-Vanguard. Poor Mr Allen, hired just 6 days after the RBC loan was signed, had his work cut out for him. How do you write down valuable assets, avoid making large demand payments on time, and negotiate a Canadian Government bail-out loan for a US buyer, all at the same time ? It makes you wonder why these top executives, who publicy state with glowing reviews how fantastic it is that EDC will be lending small businesses much needed funds in March - YET they do NOTHING until the US buyer needs financing ? Read it all for yourself...http://www.newswire.ca/en/releases/archive/March2009/19/c2620.html Allen-Vanguard could have borrowed through EDC and scrapped the RBC loan - in March of this year, and still been operating as usual, trading daily on the market - WHY DID THEY WAIT ? Why didn't Mr Allen pick-up the phone last March, call his buddies back at EDC and say "hello, we could use a little help here" ? NO - it didn't happen until the "plans" were made. The company gets handed over to a US buyer, and EDC arranges fantastic financing to take the assets private. These guys are in the position where they have their finger on the pulse of the day-to-day business - and they don't realize that financial troubles lie ahead - until it is too late ? Let's not forget - these guys are very well educated people - it's not like they never thought of asking for EDC money. They did ask, but not for themselves, for a US buyer, where they apparently have no interest. These guys couldn't wait to give up operating Allen-Vanguard to Versa where, according to them; 1. they receive no funds to them personally, 2. they lose their share value, 3. they have no promise of future considerations, 4. and they have no guaranteed job ...does anyone else think that there is there something a little wrong with this story ?