Results 1 to 6 of 6
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09-02-2020, 11:07 AM #1
OnDeck/Par
Only in 2020 could you say Par was a safer investment then OnDeck
https://debanked.com/2020/09/par-fun...t-than-ondeck/
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09-02-2020, 12:04 PM #2
- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,477
I did fantastic on my ONDK short. I was pissed when I got stop buy covered at $4.
Kevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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09-03-2020, 04:58 PM #3
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 590
With MCA, governing authorities want to take action but they’re not even sure what crime they’re going after.
Because OnDeck did everything by the book, (except win,, of course), even their express failure rate is considered done in a socially responsible way. Past returns are no guarantee of future profits.
Public perception plays a big part for Par, which is why big companies pay attention to the image of the people running the show; even if it never happened, just the idea of you being boarded by 3 patrol speeders off the coast of Me-he-co, after a slow speed chase in the midnight fog, confiscating what turned out to be a few drums of ghost peppers,
Can be an excuse for someone to try to make a name for themselves by taking you out.
Www.B2BRecon.com - Free Real Time leads with every data order.
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09-09-2020, 09:48 AM #4
- Join Date
- Feb 2018
- Posts
- 1,349
https://debanked.com/2020/09/ondeck-...a-deal-happen/
according to this suit, it's ongoing whether it was done "by the book"
"alleges that OnDeck’s directors and executives took it because they were individually offered “exorbitant personal compensation” including “millions of dollars in severance packages, accelerated stock options, performance awards, golden parachutes and other deal devices to sweeten the offer.”
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09-09-2020, 10:01 AM #5
- Join Date
- Feb 2017
- Posts
- 3,411
https://www.inquirer.com/news/par-fu...outputType=amp
Recovery from Par seems like a distant hope
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09-13-2020, 09:04 PM #6
- Join Date
- Oct 2013
- Location
- Designer
- Posts
- 590
Definitely not a great look, initially, but many times a matter seems settled, until the other side has a chance to speak.
Probably a couple of ways a lawyer could defend this:
* Enova’s Track Record
While a component of Enova’s business strategy has been to pick up companies on the cheap, they have excelled at identifying the hidden value core of a business, to leverage and greatly multiply profits and revenue.
The other buyers indeed offered more upfront, but overall had much less upside, didn’t provide a clear growth strategy, or show how they could help OnDeck meet their original street expectations in the near foreseeable future.
Yes one of the outcomes of the Enova deal is that the executive team (according to their impact and output) will be rewarded upon reaching agreed-upon milestones, but the shareholders will also be enriched as well, and the bonuses and compensation are in line with other companies of this size in this space.
* The Projections
As for the projections, we didn’t have 2 sets, we had 5 sets, ranging from best case to worst case scenarios.
As we all know with projections, we are making a range of assumptions based on current data. At the end of the day they are a ‘Guess’.
Our shareholders explicitly stated they were only interested in analyzing the best-case scenario, not the other possibilities, so we complied with their request. Enova wanted to see the worst-case scenario, so that was the analysis we provided them.
* Who’s being selfish?
A number of these larger Shareholders hold a heavy bias against the current management team, having tried to remove them unsuccessfully.
It is strongly arguable that they are the ones currently operating in a self-serving manner now;
They are taking a view that, while partially justified, is overall pessimistic and harmful to the long-term outlook of company and to many shareholders. A larger sell amount upfront helps them abandon ship with less of a loss, but doesn’t necessarily benefit the company or the remaining shareholders, of which there are a lot more of.
www.B2BRecon.com - Pick up the phone to call a merchant, and then realize he already sent the package in. That's what your system should be doing....Last edited by Franklin; 09-14-2020 at 10:30 AM.
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