Response and rumor...
Nonsense. They said don't take any conclusions from the SAIC report (or its Executive Summary which was leaked), which we lauded in our PR, as a basis for anything in the future.
If that was true, then why even issue the PR???
This is the last statement in the PR from John Bordynuik:
“Furthermore, this is the first time we’ve received a pro-forma financial analysis from an independent third party, and we are extremely pleased with the positive conclusions .”
What investor did not take this to mean that the SAIC conclusions were nothing but positive? I certainly did. THAT IS WHAT HE SAID.
Only to publish this in the retraction:
" However, neither the SAIC report nor the executive summary should be relied on as management’s analysis or opinion regarding JBI’s current strategic plan or its business or financial prospects. "
WTF??? Positive conclusions (Yay!) that were " based upon a number of assumptions made at the time of the report that may be outdated or incorrect or that may prove to be incorrect in the future. Management’s current assumptions may differ and additional events, risks and uncertainties may cause JBI’s actual results and performance to differ from SAIC conclusions or projections."
Ooops. We fed SAIC such useless information for them to base their conclusions on that the conclusions are meaningless to the future of the business.
The PR came out at the end of June. The retraction was made in October. Do you believe that they would have even made the retraction statement if the E.S. wasn't leaked?
This is much more of an issue to me than the overstatement of the value of the media credits ever were.
And now a new rumor about a JV with this company:
http://www.wasteconnections.com/
If this rumor turns out to be true, the company will once again have shown that they can't run a tight ship, even with a captain on board.
This "news", if it is news, should not have been leaked.
I wonder who has the loose lips. If I was a captain, I'd be pretty upset about my ship being sunk.
But, as has been rightly pointed out, any announcement of a JV by the company must be taken with a grain of salt until the JV is actually in place.
Nonsense. They said don't take any conclusions from the SAIC report (or its Executive Summary which was leaked), which we lauded in our PR, as a basis for anything in the future.
If that was true, then why even issue the PR???
This is the last statement in the PR from John Bordynuik:
“Furthermore, this is the first time we’ve received a pro-forma financial analysis from an independent third party, and we are extremely pleased with the positive conclusions .”
What investor did not take this to mean that the SAIC conclusions were nothing but positive? I certainly did. THAT IS WHAT HE SAID.
Only to publish this in the retraction:
" However, neither the SAIC report nor the executive summary should be relied on as management’s analysis or opinion regarding JBI’s current strategic plan or its business or financial prospects. "
WTF??? Positive conclusions (Yay!) that were " based upon a number of assumptions made at the time of the report that may be outdated or incorrect or that may prove to be incorrect in the future. Management’s current assumptions may differ and additional events, risks and uncertainties may cause JBI’s actual results and performance to differ from SAIC conclusions or projections."
Ooops. We fed SAIC such useless information for them to base their conclusions on that the conclusions are meaningless to the future of the business.
The PR came out at the end of June. The retraction was made in October. Do you believe that they would have even made the retraction statement if the E.S. wasn't leaked?
This is much more of an issue to me than the overstatement of the value of the media credits ever were.
And now a new rumor about a JV with this company:
http://www.wasteconnections.com/
If this rumor turns out to be true, the company will once again have shown that they can't run a tight ship, even with a captain on board.
This "news", if it is news, should not have been leaked.
I wonder who has the loose lips. If I was a captain, I'd be pretty upset about my ship being sunk.
But, as has been rightly pointed out, any announcement of a JV by the company must be taken with a grain of salt until the JV is actually in place.
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