|
WSE Update 18th - 27th May 2008 www.wselive.com By SL Hak They say patience is a virtue well WilliamTheWise Goodman has lost his patience and has finally taken Entropia private. This was announced with an air of despondency after a shareholders vote on the 23rd of May. In his farewell statement the CEO blamed the perpetual close and inactivity of WSE for its departure. Hold on, four days later and Entropia was still posting on the WSE home page, the ticker had been removed but criticism remained, very unlike WSE. The second post displayed a little more annoyance and openly criticised Luke as he had still not responded to WilliamTheWise’s communications and departure from WSE. It appears that this ex CEO of WSE is now advocating that other CEO’s should adopt the get out quick policy and commented that WSE was now acting out of “Flagrant misconduct”, strong words.
MH Motors (CAR) has been relatively quiet of late, this isn’t unique to CAR as many a CEO appears lethargic on this exchange, and who can blame them. CEO Fraguers Hock has acknowledged his recent shortcomings and has re engaged with its shareholders. Although for those who are looking for CAR to jump ship and find a new home will be disappointed with Fraguers explaining that he has L$12 million tied up on WSE and that shareholders should trust his decision, from where I’m sitting it looks like the CEO’s bank balance is taking priority over that of his shareholders. Looks like there’s 12 million reasons why CAR will stay with WSE. Fashion and Gadgets (FAG) continues to report a large monthly turnover, L$1.2 million in April, making a profit of L$100K, it’s actually very difficult to tell how well FAG are performing as the CEO does not produce a financial statement of any substance. It would be useful for a breakdown of the figures in order to judge its performance. I wonder how many more of these reports will be made as WSE appears to be finally imploding or will Luke pull a rabbit out of the bag just in time, does anyone know?
|
