Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[ltesprit]

That's an important issue. Businesses in Asia tend to be far more opaque than in the U.S. (I worked there in accounting for years), and shady practices abound. I think we have birds of a feather here. But Asians are quite scrupulous in their internal affairs, and if Fan truly has an equity interest in Q now, he's going to be implementing controls. I'm sure he's gotten the song-and-dance from Olsen, but I don't doubt he got to see the audited financials and from what Richard told me he is informed of current management's 'shortcomings'.

I am frankly surprised Olsen is still Chairman and CEO. Either Fan didn't invest, or he has only a minority share, or the 'interim president' position is just an incremental step.

This Lloyd Fan development isn't optimal, but it does raise possibilities of improvements in shareholder value. I would have preferred professional equity investors with industry experience to have stepped in an taken over, but none of those such folks would likely touch TMM with a ten-foot pole. They're too smart and risk-averse for that. Fan is either willing to take a big risk, or this is just another fishy development in the sad QBID saga. We shall see.