Langbar archive

r33skyline - 22 Oct'05 - 14:44 - 22523 of 22575

More from iii

Author The Wolverine
Date posted today 13:26
Subject From the outside looking in

I agree, bankside are a big firm, with global coverage,i would like to think they have substantial credibility to lose ( and substantial clients, and profits) if LGB turns out to be thin air, not to mention the credibility of several very high brow fund managers, and auditors, accountants,property and land surveyors, ie DTZ and others.

When you stand back and look at this from the outside,and i think now is the time to do that,( ie all b/b rubbish aside and ridiculous slap stick press coverage like the Yorkshire post) it still appears to me to be a victim of its own success.

Now what i mean by that comment is as follows.This company has been plagued and i mean really plagued from the moment pearson took it over ( and before ), its been hounded in terms of its credibility,its been shot down ,because noone would believe that it had these assets.

Indeed forget having them,there seemed no chance of getting them, not to mention the money laundering allegations and dubious source of the money and assets, LGB and pearson and bankside have had numerous un warranted abuse thrown at them for mnoths now.

BUT guess what, despite all this( forget the cra..p form the last few weeks, its being going on for months, the new members of the board or doubters conveniently forget this fact),Bankside could have, BUT have not walked away from the LGB account(easy to do to save face) INFACT Padley has done the complete opposite, he has taken time to anwser e mails ,with guarded response, granted,but positive remarks, albeit with very carefully chosen words which imho on occasions are slightly ambigious,but what do expect from a PR man, he has to leave some room for doubt.

No i believe Bankside are still there, because they KNOW its going to work LONGTERM, which to them as a business, means excellent LONGTERM fees from LGB and its variuos intended spin off companies, WHY else would they stay,in particular NOW as LGB is really grabbing the limelight in the press, REMEMBER that lime light also means bankside and padley are also up there to be shot down in flames, i am sure some of their clients will be asking questions about their continued support of LGB.

Lets cut to the chase here and stop pi..sing about with mickey mouse posts, everyone here is running a business, bankside, LGB and the institutions, they are men ,not children, peoples lives, livelihoods, reputations and futures are at stake here, not to mention possible criminal actions, and even prison(often i think some of the cr..ap on this board is laughable), ALL involved with this company, from the accountants , auditors, fund managers, stockbrokers, the management , the surveyors etc etc are here to expand their businessesand their reputations and clients bases.

Now lets take that and again cut to the chase, lets list all those who stand to lose a great deal, profits,savings,fees, reputation,client base, present and future profits,criminal investigation, FSA investigation in europe and in canada for TRADEX ca investment managers.

The List.(there will be some missing)

1.Merill Lynch ( money, international reputation,individual senoir jobs etc)
.
2.Gartmore ( as above)

3.University Superanuation fund ( as above)

4.Henderson investment( as above)

5.Tradex ca investments
( as above, but also, their main customers are retired canadian civil servants, whoops they will be happy with 8.4% of their global equity fund in lgb, in particular as it was bought during a period ofgreat doubt about the company over a 3 month period) These guys are really for the chop(NOT).
6.Bankside Consultants
(padley and others accused party to fraud and blatant lying and misleading investors,potential severe client loss worldwide, severe and likely unrecoverable credibilty. They will have to be in the dock aswell for any FSA investigation and possible criminal investigation ala enron on
much smaller scale).
7.All involved auditors, due diligence, etc , (as above.
8.All involved accountants ( as above )
9.All involved lawyers ( dont forget them, plenty of them).
10.All involved surveyors ( ie dtz and others).
11.Private investors (us).
12.Other shareholders.
13.RYBAK, pearson and the board.
14.Lambert financial and 2000 pensioners in Israel.
15.All bankers.

Now most of the above have always been in FULL knowledge of the background to this company, its CEO, its strange registration and set up, its new CEO,its shareholder setup and percentage of ownership, its SO CALLED dubiuos past and unlikely source of assets and cash or depository notes, the shocking bad press ,the shocking rise and fall of the share price on several occasions culminating in the suspension, THEY have ALL known this, so very very simply say to yourself very calmly and quietly,who do you trust and believe in 3 or 4 mongrel journalists with papers to sell, a handful of simpelton in the employ of hedge fund Posters on this board and others.

OR do you say to yourself, hold on a minute STOP this crazy bus,i believe and trust, several and i mean several DOZEN highly respected professionals, NOT JUST from one FIELD of expertise, BUT probably from 6 or 7 fields, who have all chosen for a bizarre reason ( not) to continue to support LGB and invest in their future, and continue to do so.

HUM, its a hard game this investment lark,But LGB would appear to me ,if i were a gambling man and i am , to be odds on favorite in a one horse race.
End of story.