Is BlackRock a capper or genuine seller?, page-19

@turtleboy

Reckless is not a word I would use, but I have been critical all the same, more so because some believed at the time it was just a money funding transaction and not a change of ownership, still saddens me all the same.

We can all debate why they had no bed in the end, but no bed is what they ended up with following funding falling over in Brazil. Only one bed was available, you sleep with whoever then, all it took was to sell the company, they did that and forever will work for the man....perhaps?

I spoke at length at the time about big capital and labour, a separation of powers if you will. No self-respecting capital entrepreneur would sit with no equity in his own company for years and years, as bad as some prior directors may have been they just would not sit meekly and work for the man. It’s been years now and not one director has taken any serious steps to own their own company, I own more than them.

It’s not about money, never is, you fight beg borrow and steal to get some piece of the action, its not as if you have not had years to find a way. My expectations are solid that AVB do will very well, is not dependent upon labour thank goodness, if the resources are real capital will always find labour and capital always makes it work with them or without them.

This is nothing new from me, I have said the same thing many times, AVB are not Robinson Crusoe, many if not most companies end up with big money owning them, it’s not new to have very competent directors with no killer instinct to own, happy to take a salary etc. And that always sits nicely with big capital who don’t want excessively competitive directors, not too demanding is the call, for sure competent enough to get the task done is always so much better for owners. But don't for one minute complain when capital sets the agenda.

I know this forum is read, prove me wrong guys, last chance saloon, don't let 150m shares slip through your fingers, that would sadden me more than the deal itself.

Cheers
Phil.
All IMHO