Cynical,

I'm not sure I'm the best person to answer your question... my expertise is not in that area... but here is my take on transparency:

I've seen multiple publicly traded companies use those corporate structures before, so they are not exactly novel. Also, regardless of the holding company structure, those subsidiaries' financial results are ultimately consolidated into the parent company, WTG's financial statements... so that would be a tough argument to make to say the transparency is lacking.