initially posted on the other board
Hi Inda, it was agreat trip, thx .
Having engaged Rosen and associates before, whom I found to be extremely thorough and competent, I would indeed recommed them should a forensic audit be required.
That said, the books and information might make it crystal clear in any case exactly what has transpired but in itself would not speak to the legitimacy of the transactions. Accordingly I was more interested in the legal objectives and what the intentions of the new management team were.
The conversation was not strained or guarded however I was not specific in the appoaches being used knowing that Mr. Ulicki could only speak in generalities and perhaps may not wish to tip his hand in the event I was a supporter of the old management.
My sense is that the obbjective is clear ... stop and to the extent possible reverse the bleeding of what many of us consider to be breach of fiduciary responsibility. Many of us believed that as owners of LOOK/UBS we held valuable assets. Although those assets may be/have been valuable they clearly were not as valuable to the shareholders as many of us perceive.
I am as confident as I can be without being inside myself that the objectives stated in the circulars are the objectives being pursued and will defer to those who are inside to take the appropriate actions based upon their experience and those they engage to assist in the effort.
Having been involved in long and ongoing legal battles, understanding the costs involved for lawyers and forensic accountants should they be necessary, and both the audacity and determination of the old regime to be self serving, this will be an incredibly long drawn out process in which lawyers will be better compensated then shareholders.
Nonetheless I support the effort if indeed all is lost in order to address the arrogance and smug behaviours of those who have wronged us honest shareholders who have not benefitted of assets that truly appeared to be worth considerably more than we realized in our ownership of them.
orgy
