Adrenalina CEO Ilia Lekach isn’t done with Canada’s action sports retailer West 49 just yet, according to a story in the Globe and Mail. But not just yet, as Lekach says he’s busy.
“Right now I’m in the middle of another acquisition,” said Mr. Lekach, who put forth the offer two months ago. . . “I’m going to wait until I finish it, and then I’m going to go back to West 49.”
Hmmm, wonder what active acquisitions Mr. Lekach has going on right now? Either way, he says that later this year he’s going to get back on West 49 and buy it.
[Link: Globe and Mail]
Well judging buy Mr. lekach’s past endeavors, he should just shut the hell up and stay out of skateboarding or anything for that matter. Looks like he is going to drive one more company into the ground! CLICK THIS LINK…
http://www.marketwatch.com/story/worst-ceo-of-the-year-award
I think his actions (or inactions) speak louder than words…
Lekach, meanwhile, has appeared to treat Parlux like a personal fiefdom. I first wrote about the company in 2005 after it issued a press release saying it was going to seek strategic alternatives to “enhance” shareholder value. That would’ve been standard operating procedure for corporate America if its stock hadn’t already exploded 10-times higher. (Needless to say, there was no deal.) This followed a botched plan in 2003 to take the company private at a split-adjusted $2 when the stock as trading at $1.50.
from marketwatch….
Then, this year, Lekach was back again with another LBO plan at $19.50 a share, or roughly double the stock’s price at the time. That hinged, of course, on whether he could get financing, which he couldn’t. The stock has since lost two-thirds of its value from its highs of the year. Lekach, with the help of his board, has a plan to stick it to shareholders if they approve a “change in control”: He would get double his annual salary of $475,000 through early 2009 and twice his unexercised warrants.
Adding insult to injury, at the company’s annual meeting this year he lashed out at critics with an arrogant tirade, saying, “We have beaten you before. We will beat you again. Those of you who have no faith in me our company, you inspire me to higher levels. We will perform and succeed. Those of you who do not follow me, you will be left behind.”
Just like his shareholders.
Lekach didn’t return calls seeking comment
what’s the deal with AENA- it looks cheapI think everyone who owns stock should call and demand some information-
Shareholder rights
305-770-4488
They try to make waves saying that they are going to buy a big action sports company. Form there what happens? There stock goes up on the “hype” of the possibility. So if you are buying and selling at the right time you will see a gain.
INSIDER TRADING ANYONE???
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