Thank you that first article (I haven't read the second one yet) its a great read and I do think that paying $16 million for hookers is a bit steep. Mr Dickson is responsible for his poor judgement in launching the take-over bid for CB&I a company with large debts, large losses and a problem with overpaying hookers although in defence of hookers I imagine that it's a hard job and well worth decent renumeration. It seems that Mr Dickson made this one and very large mistake. The article describes McDermott as a well run company prior to the CB&I acquisition and the new owners trusted him enough to keep him in charge while the reorganisation was accomplished. Every financial disaster always includes the words Goldman Sachs. They truly are the squid on the face of humanity that people describe them as. Will read second article tomorrow.
LKE Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
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