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User Info Buybacks And Lies; entered at 2019-02-27 11:14:29
Posts: 1309
Registered: 2015-01-29
I've unfortunately had a front row seat to to all sorts of corporate fuckery for the past couple of years. The company where I work former CEO spent the better part of a decade "growing" the company through acquisitions since he proved unable to grow it organically. Worked out ok for them for a time. That is until the last acquisition. CEO and his buddies got a real surprise when the deal closed. Turns out some hedge funds took up some sizable positions, at least one big enough to cross the 5% mark and pushed the weak board to have management of the firm they just bought take over the company. I find it highly unlikely that this wasn't planned in advance with the executives of the acquired company, but I'm just naturally cynical at this point.

Anyway, here we are a year later and new management finds they aren't any better at growing this white elephant than the last team, so they broke several promises and took a giant clever to the dividend payouts. Now some of the hedge fund guys that put them in charge are filing their 13D's and demanding seats on the board with the goal of selling off the profitable assets. This could very well turn out like my ex-wife's family re-unions...loud, ugly and mildly entertaining.

You don't have to be an expert in old gangster movies to know that you should always be careful about who you let do favors for you.
2019-02-27 11:14:29