fake maverick strikes again. So threatened by disclosure of kahuna, circle, moe, and more being one person that he created three fake maverick ids to discredit me.
A merger based on depressed market values is not going to be good for shareholders. In my opinion, the priorities should be as follows:
1. Use the cash to buy back depressed stock.
2. Get truly independent directors to exercise good corporate governance.
3. Get new management to try and break the self-dealing NSAM contract.
4. Slowly increase the dividend in line with increase in cash flow from operations per share.
5. Reduce debt.
The above is not rocket science, but should lead to increased stock price and increased per share dividends. Anything beyond that is more management manipulation to line their own pockets. They have no shame, and I pray that they will get their just desserts one of these days.
I've dealt with GT and most of the other larger firms. Of course, they try to please the client and they balance that against the firm reputation and legal liabilities. My point is that GT is not intrinsically better or worse than any other. Management and the Board are responsible for abysmal strategy and execution, and the destruction of shareholder value. Punishing GT is pointless, and may even be dysfunctional during the current instability.
Just make sure we vote against the Board and management compensation. Send a strong message!
abcdsteve123, pay no attention to the fake maverick.
I have not dealt with GT in real estate. My experience is that you can drive a truck through any of the big accounting firms. It might be easier with GT, I don't know.
That said, it all comes down to the specific people involved.
I think you are correct. Perhaps the liability issues with the fiduciary duty breach allegations have them on hold right now. They seem awfully quiet. Have you dealt with them too ABC?
Yes. I have deal with all of them. I found Arthuer Andersen to be the most ethical, oddly enough, before they imploded. The Houston office had one dirty rat that brought down the whole ship. GT is OK. Pretty conservative actually.
there will be no merger. think why in the %$#^ would NASM give up such a golden goose. the rumors were an opportunity to bail out of this with less losses. it was a lost opportunity for those that didn't sell on the news. why in the world would colony even want to negotiate with a ball and chain like NASM. think think this merger is fantasy. maybe we can merge with disney???
The longer we go without updates from management on the supposed merger, the less likely chance we have at success. That's just a fact. Most likely, Colony has pulled out by now. Surprisingly, if NRF would use $1 billion of the $1 billion+ they have raised to buy back shares, I'd probably be OK with the NASM deal going forward if they would trim the contract way down. If they take all that money and just give it to NASM, which is merely an alter ego of management, there are going to be so many shareholder lawsuits filed against executives and NRF/NASM that the Manhattan Federal Courthouse will need a temporary annex to handle the case overflow.
The big 4 have no secret playbook that makes them better. Arthur Andersen. KPMG (which got away with it so there would not be big 3).
All acct firms feel pressure to retain big bucks clients. They always look to how can they justify the client's position. Sometimes there are lots of contortions involved.
i can assure NorthStar buys GT opinions. they used to be audited by E&Y. why do you think that is?
GT isn't even in the same ballpark as the big 4.
I think the institutional people are paid just like the NRF people. Doesn't matter if they perform or not. They get their money first. Why else would it be that they don't do anything about losing 70% of their money? AND I MEAN NOTHING!!!