Ann: Management Update, page-10

I think you are writing it off all too soon....the core business seems to be going just fine, indeed better than fine....however there has obviously been a "botch up" by the CEO around the treatment of the new chargeoff accounting..which was poorly communicated to the market and caused a massive selloff in the stock....but the reality of it was that there wasnt too much drama in the credit numbers when adjusted for accounting changes....and credit costs remain below peers.

So what we have is a mismanagement of the information release......and clearly the major shareholder family has moved against the CEO too push him out, using this as an excuse....I agree all not good but so long as the core business is fine then I think we still have a viable business. Hence my question about any fraud that may have happened........multiple people have recently audited the company and found nothing so.....I would be hopefully on that score.

So what I would expect to see;

Business strategy change to slow growth a bit, probably pull out of Canada etc which was brainchild of the CEO.
Search for new CEO and CFO.
Appointment of outsider to restore confidence of the market in the book (audit).
possible small equity raising backed by founding family as underwriters.
Keep an eye out for things outside of the norm.......

just some thoughts. I wouldnt write it off just yet..