“When the vendors of this short term capital stop lending bankruptcy can follow as we saw so often in the recent financial crisis and with Enron.” “Who to believe? The publicly traded market price or a secret model which says it is worth 30 times more. You decide. Oh ......
One of the largest battles for corporate governance is unfolding. Not since the debacle of Olam have we seen an incident involving such a prominent and well known company. The result of various stakeholders in pushing for more disclosure has been unsatisfactory to say the least.
An Open Memo To Noble Group’s 15,000 Employees (LINK)
This post is written by Michael Dee, who has been in the investment banking scene (ex Morgan Stanley CEO SE Asia, ex Senior MD of Temasek Holdings), and his opinion carries a lot of heft.
Here are some of my favourite points from his memo: