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HI all, The is only one thing in all of this that gives me cause...

  1. 912 Posts.
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    HI all,
    The is only one thing in all of this that gives me cause for corcern. I went through ten seconds of initial shock doing the look through calcs, but gradually the positives began to mount, and I don't need to list them all again here.
    The concern is that FAR management appeared to be blindsided.  I mean, gee whiz?  The announcement seemed fine. It was a zero content release that said: people are asking what just happened. Here is what just happened: what just happened is what you already read in the WPL announcement. OK thanks.
    I didn't mind that, because I assumed that FAR had a real response, but that real response could not be released yet for tactical reasons. Hence the nothing announcement.
    But what threw me sideways was that a few hours later I learned on this forum that the CEO was cheerfully back grounding  shareholders and analysts with additional (to the, universally agreed, pathetic public announcement) in depth commentary on the situation; and that this commentary was confirming the idea that FAR had no idea of the WPL transaction. Aside from materiality and disclosure considerations, this raises a further concern that the CEO is out of the loop; and I am afraid this raises for me at least the question of boardroom unity. When you bring lions onto the board, you can't assume that they are tame.
    I should say for people just looking for the first time at this investment, that my comment is not 'price sensitive' in that FAR is what it is, and SNE is what it is (and no one is more upbeat than the fundamentals than I am.) It really doesn't matter who knew what when, if we end up with the right result. But I am just flagging something that is jarring in all this.
    Cheers
 
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