To be honest, I'm getting less impressed with Jacky. His answers to a few questions were just not good.
Q) How much of your cash is currently in offshore bank accounts?
A) I'm not sure ... I don't have a concrete number, maybe around 10-15%.
"I'm not sure ... I don't have a concrete number"?? Can you please then direct me to the person who answers financial questions at the company please?
He also dropped the ball when a caller asked about the lock up on the CEO's shares after the Starr deal ... it sounded like he had no idea what the caller was talking about. This then segued into a question about Starr's intentions with their shares ... he really shouldn't be commenting on Starr's intentions at all.
After listening to the call, I'm fairly certain that Jacky is a big reason for the CCME discount.
Look, I love the business and own a ton of stock, but I think it's important for us as shareholders to let Jackie and the CEO know that, to date, they have done a terrible job of communicating this story clearly to institutional investors ... if they cant already tell based upon the pps action after announcing what was truly a phenomenal quarter.
