schwab tower ad 1 15

west system fp banner ad 1 15

vela banner 2 15

pyi banner ad

lemon and line

bmc_ad

http://www.mauriprosailing.com/

fireball banner ad

seascape banner

karver ad 1 14

http://www.shaw650.com/

BBY_SA

http://www.dryuv.com

a 40 banner ad

c tech 9 22

columbia banner 2 15

rapido banner 2 red

photo boat banner ad

sapphire 27

helly 10 9 side banner

http://www.crowleys.com/

velocitek banner 12 16

hh banner green

weta banner 2 9

farr 280 banner 9 4

http://www.lymanmorse.com

volvo 70 charter

Gunboat 5501 in Newport, RI.

VX-One-550x150-Bnr_V3

mc 38 31 banner

tan banner 10 14

b&g banner 10 7

mauri 3 1 SA-Top-Rotate

southern banner 2 15

Posts Tagged ‘Numbers’

Article Separator

We noted the other day that the wolves are again circling embattled First Marblehead CEO, Sailing Anarchy hater, and opponent to free speech everywhere, Daniel Maxwell Meyers.  The past half a year has seen Meyers take hit after hit after being nailed personally for an over $50 million-dollar judgment when a Boston judge found he’d acted in ‘bad faith’ in a stock deal with a former friend and partner.  A couple of months later, First Marblehead barely escaped delisting from the NYSE when the FMD share price – once trading at over $60 per share – couldn’t stay above one dollar.  Just the other day, FMD reported lower-than-expected earnings, getting downgraded by the only analysts still tracking the now penny stock.

But that all pales in comparison to the latest allegations that First Marblehead may be required to cough up some $300 Million after improperly taking avoiding taxes on the sale of a Trust certificate; we reported the other day that the IRS is auditing the firm now and that one law firm is already looking into potential securities law violations; now another is jumping into the fray.

With FMD’s market capitalization only around $100 million and less than $200 million in cash reserves, the IRS’s determination may send FMD straight into the trash bin; the same place First Marblehead’s expensive college loans and student load securitization scheme has sent so many college students’ credit over the past decade.

So why would FMD Board replace Meyers as President of the company just a couple of days ago?  Does that move take restrictions off his ability to buy or sell shares that have plummeted in value?  IRS: Are you watching?  We hope so.

 

August 20th, 2013 by admin

Gunboat 60 sailing in Annapolis, MD.

fisheries 12 1

uk ad 4 3

whitecap fp ad

rbs banner ad

swing keel ad.jpg_sml

ewol banner ad

melges banner 10 14

boat tent banner ad

fast sailing banner 2

infiniti vanner ad 12 14

ropeye banner 3 25

latis banner  2 15

fisheries banner 9 4

FSS_SA

race q banner ad

hh banner purple

ullman banner ad 2 15

http://www.camet.com/

nosa banner 12 18