GEORGE Economou has lined up orders for a slew of newcastlemax bulk carriers in China as the cornerstone of a new venture being put together with a possible public offering in mind.Sources...Oct 2013*****NEW PUBLIC OFFERING ???? Can't wait.
He is asking the banks to assist him by turning over SHIPS, EMPLOYEES etc. HMMMM.........gee, I don't think I'd go with the flow here. Doesn't sound "harmless" to me.
Hiring CEO's instead of ONE GREAT CREATIVE Merchandiser. Time for some Private Equity to buy them and put them back in URBAN centers instead of Off-Mall sites in sleepy BURBS
one to cut should be at the top. What a disaster.
for officers of this company.
This transaction seems like self-dealing at the bottom of the cycle. The ships, the employment contracts THE CUSTOMERS and the remaining loan balances. JUST WOW!
because the loans are made and covenants applied to an entirely different entity - that's why
This might not even be "allowed". The CEO or Board NEVER projected that they were trying to sell-off this company. The Banks are really onboard????? Don't think so.