I asked IR/Hellman about Stillwater.
Me: I'm calling to inquire about the most recent Sept 18 PR concerning financing of the Hackets deal for Seaway. The August 2nd PR mentions Stillwater having made an offer to finance the deal, but the Sept 18 PR doesn't mention Stillwater. Instead it says the financing will be accomplished via Wisebuys selling "non strategic assets". Does that mean Stillwater is no longer involved with this deal?
Hellman: I would imagine so. I don't know.
I have been on the phone with Hellman/IR three times this week, and have not been happy with any of the phonecalls. I asked him about "Non strategic assets" the other day. He said to call him back and he would have an answer. I called him back and he said either,
"It's property." or "It's properties."
Then I asked him, "Does that mean they are selling a Wisebuys location?
He said, "Something like that."
I was about to post this on the board the other day, but my notes were scribbled and I wasn't sure if he said "property" or "properties", so I called him back once more for clarification. While speaking to him, I mentioned I would be publishing this on the Ihub board. He then asked me not to do that claiming that he wasn't sure.
"My manager told me that but he's not sure either."
I then asked him why he used a tone of certainty when I called earlier and he said, "I shouldn't have done that."
Yesterday, I tried to get some info on the O/S change and he wasn't able to clarify anything.
I don't think it's Hellman's fault. SWVC is not giving the man anything to answer our questions with. I'm not happy about this aspect of SWVC. They are releasing conflicting PRs. It appears now that the Sept 18 and the August 2 PRs are in conflict re: Stillwater.
Furthermore, nobody form SWVC will tell us what "non strategic assets" are which appear to be taking the place of Stillwater's financing.
These are legitimate questions arising from language in PRs. Since this stuff was issued in public PRs we deserve clarification.
I called Stillwater, wasn't able to get Doueck. Maybe somebody else will have better luck on that.
