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Thursday, January 31, 2013 9:29:34 AM
You can look at the fiasco at Chimera Investment (with the unfortunate ticker of CIM)to see the kind of lattitude provided to meet requirements. They have not filed financial statements with the SEC in over a year, are expected to restate by up 66% lower, and just got another 1 month extension.
Can't blame management for taking advantage of this flexibility. Though, personally, I would like to see some leadership. Can't help wondering what Ray's personal plans are with the current path of the company. Don't see him hanging around for several years waiting for the revenues to pursue other ventures. Privately I've wondered if he does not have a position at Tullow worked into the arangement. Today's announcement could loosely be construed to support that.
Just rambling as we kill time...
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