The odds are generally against fools.
The odds are against the current management being able to float the Coop off the rocks.
These guys are writing rubber checks now. No moolah!
Five months ago Trumpenhausen reported that she would borrow another $ 500,000, or at least $137,000 to provide a working captal buffer.
When a 43 year member stood up and vociferously objected, Trumpenhausen launched a plan and cancelled his membership.
Now, it appears that the member who was thrown out has three SEC licenses and personal ties to the bank loan committee members.
Oops! Locals don’t like to be strong armed by out-of-town punks…
In this mean, cold capitalist world if you are a deadbeat Company with assets, the bank puts you in “receivership”. Then it’s the bank’s ballgame and the manage the recovery.
Trumpenhausen and Fiske will have no recourse, now. They have shown that they don’t know business and that they don’t know leadership.
The banks will loan them nothing until they clean house.