What a shit show!
Obviously they ditched QIC without having an alternative finance source firmed up beforehand. The money boys are just taking advantage of the situation. Who can blame them? The bright side of this, according to Rick Rule, is when the big boys try to get on board when they have most advantage.
If EQR possibly can (and they do not need the dosh too urgently), they should ditch the cash raise and ask Oaktree very nicely, if they could stump $4 mil, and give them two extra board members so they can keep an eye on things better.
Somebodies head should roll over this. NOT Kevin as he is the brains behind this outfit. I would be looking at Oliver for being to bloody ambitious and not looking after shareholders as is his first duty.
I will be trying to buy more as the price drops.
EQR Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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