"In a filing with Bursa Malaysia, AP Land said that its board, (save for interested directors, Low Gee Tat, Low Gee Teong and Low Su Ming) was now of the opinion that the proposed disposal “is not fair but reasonable.” This is a move away from its previous view where the board had stated that the proposal was fair and reasonable.
However, the board still feels that the proposal is in the best interest of AP Land and its non-interested shareholders and hence shareholders should vote in favour of the resolution."
Voting in favour of an unfair proposal is in the best interest of the shareholders while there is no hurry at all? The first announcement is from January 2011, more than nine months ago, did the Board of Directors try to come with a better proposal that is more fair? Did it for instance consider holding auctions for its assets?
Olympus’ Kikukawa Quits; Complaint Goes to FBIhttp://www.bloomberg.com/news/2011-10-26/olympus-chairman-kikukawa-quits-after-fees-dispute-takayama-is-president.html
"Olympus Corp. Chairman and President Tsuyoshi Kikukawa quit after allegations over acquisitions wiped out more than half the company’s market value in two weeks and as the chief executive officer he fired prepares to meet U.S. criminal investigators."
"Domestic and overseas investors have “expressed opinions that the management of such listed companies have unfairly damaged their corporate value,” the TSE said in the statement on its website. Shareholders were also concerned about “underlying problems in the quality of Japanese corporate governance,” according to the statement."
“They’re stonewalling” Merner said. “They still haven’t answered the question about why they paid huge commissions.”
More Than 80 Percent of Hedge Funds Underwater
"The selloff in most of the global markets in the third quarter heavily impacted a large number of hedge funds.
In fact, not only did it put many funds into the red for the year, it pushed a huge number of hedge funds below their high water mark."
Are Hedge Funds not supposed to hedge (part of) the risk? Current conditions (with lots of volatility) should have been good for some funds.