PG has every intent of running ASCL into the ground. Not only is he overpaying for Vality, but I wouldn't be surprised if he is personally benefitting from the sale.
It's time that ASCL shareholders rebel. It's time for us to secure legal counsel to stop this blatant misuse of resources. Paying four times sales is not only only unconscienable, it is probaby the worst example of incomptetent management I have ever seen.
Can you hear that sucking sound? That's what's happening to the money in you back pocket every time PG gets near you.
PG makes Ken Lay look like a choir boy. It's time that the SEC and others investigate, indict, and convict this unscrupulous CEO.
Write the SEC. Post your email here, and I'll coordinate a class action against PG like no one has ever seen before.
It's time for this management to go down -- and go down HARD!
I assume that you don't have any evidence to support this accusation, but as a thought experiment, how would someone go about profiting from such a sale? I can think of several ways it could be done:
1. Kickbacks 2. Undisclosed ownership 3. ????
I would assume that the way to do it would be to overpay for a private company, buy it with corporate funds, and then manage somehow to get some of the overpayment returned. Shades of the Nigerian internet scams! I would tend to discount such conspiracy theories in the absense of any indication that there is some prior or undisclosed relationship between the parties.
Let's ask PG if he has any financial "interest" in Vality. Vality is a closely held "private" company. If PG owns any part of Vality, it should be disclosed! And if he does, he should be indicted for insider trading, sent to Sing Sing, and given a room mate named Ben Dover.