Ya, I'll Give Some of My Fortune Back
As an expected follow up to the post The cost of avoiding liability just went up, it looks like some shareholders are a little pissed at John Hunkin.
If I was a shareholder, I would go after Hunkin, I would also go after CIBC itself for acting like surprised fucks at this settlement, unless of course it was all initiated after Hunkin left. Wow, a bank that screws its customers and its shareholders.........that's a business model to grow on.
If I was a shareholder, I would go after Hunkin, I would also go after CIBC itself for acting like surprised fucks at this settlement, unless of course it was all initiated after Hunkin left. Wow, a bank that screws its customers and its shareholders.........that's a business model to grow on.
posted by Josh Kerbel at 8/04/2005 03:57:00 PM
2 Comments:
According to the report in the Post today, if it had gone to trial, their advisors envisioned a potential judgment of $10B+, $20B+ or more. So this $2.4B settlement is seen as a real deal. Ha! Hunkin is under a rock up at Muskoka - Hold the newspaper deliveries!! What a wreck.
Always good to minimize your risk and exposure, that isn't really the issue (well ok, it is - the bank should have not been doing what it was doing).
This real issue is the timing.......this will be a test of the passivity of the Canadian investor. If Hunkin gets off with a token slap on the wrist, it will be a sad sad day
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