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(We support WPP on) board reelection. I want to make sure on the rest.
Found on Reuters 6 years ago
They came in person, they went around saying: 'This is what we are thinking of doing, are you aboard?' My view was that this is the worst thing. It is like going to the doctor: you don't want to hear you want to raise equity. But as much as the medicine tasted bitter, I really think it was the right thing to do. They hadn't expected the price of these commodities to fall as aggressively as they had, and they would rather be safe than sorry. I couldn't argue with that.
Found on Reuters 8 years ago
What we certainly got wrong here is that, when we first started buying, we should probably have stress-tested the balance sheet to price movements a little better, because they were carrying too much debt given the volatility, but they have gone through the right steps to basically de-risk that, and if you look at what they have done since the summer - the equity sale, the asset sales and the asset sales to come - and given that they are taking costs out the business, this company isn't going under. It isn't a black hole, which is what the shorts' story was.
Found on Reuters 8 years ago
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