Riepe, the chairman, said this TODAY at the annual meeting -
“[We] realize the equity markets have heavily discounted the value of the company’s businesses for several years now. So the challenge to the directors and management team is to take actions that will reduce that discount... If we are successful, these actions will serve to substantially rebuild shareholder value.”
Know what else Riepe said? That they
"see opportunities for value creation" and
"we are far along in this process" meaning of the strategic review and will do this through
"realigning the business portfolio"
They are telegraphing what is about to happen. Couldn't be much clearer than that.
Relax guys, the key aspect on this subject is that there have been large insider buys recently, from other employees.
Votes of confidence, with their own money, by key members that "know" GNW from the inside is always a good sign, IMO.
Cheers for some progress on the CEO front and some smart restructuring.
Then I believe we will be off to the races!
joradn it appears you speak from a position of weakness as you do not know the company that well or what may drive gnw's value down or perhaps even up. let me ask you this. what is the stub value of gnw when you back out the canada mi stake of $1.5b with gnw's mc of 2.5b? and then compare that to say the stub bv of 13b?