Very interesting article today by Barry Critchley @ The National Post . It was on LOOK COMMUNICATIONS , and shareholder disapproval on management compensation.
The LOOK COMMUNCATIONS saga would make any spy novel boring - its really an incredible story of good, bad and ugly . I first worked with Look when they emerged in the 1990's , mid 1990's, and were owned by several Canadian Corporate heavyweights . They floundered a bit on technology, dot com impaled, and their corporate stakeholders abandoned them . They did a CCAA filing, re emerged and went public via some sort of RTO . Along the way there was a major cast of charachters, some very interesting people . I had a great relationship with their CFO / COO , who ultimately left and did a great job in stabilizing the company . In 2005 I founded my own financing firm, and Look was my first customer !!
Along the way I became a paying customer also . They did a customer mailer awhile back and said they were closing shop - Myself and many thousand others scrambled to get new satellite and internet at home .
The whole financial scenario seems very unbelievable - they close shop, have millions in the bank and assets for sale , etc .
Where it all ends I don't really know, but what a very uncomfortable story .
Stan
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