Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Eclectic Bars – More Crony capitalists meriting a firing squad after the libertarian revolution

By Tom Winnifrith, The Sheriff of AIM

7 October 2015 02:30

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I am on an anger roll with the crony capitalists on the AIM casino today. SeaEnergy (HERE) was the first to feel my ire. Next up is the board at Eclectic Bars (BAR). When the great libertarian revolution comes the newly privatised Police force will round these swine up too and – having organised a firing squad as a result of a competitive tender process to select the shooters - these bastards will also be put up against the wall.

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Comments

Striebs

7 October 2015, 04:27

Tom ,

The RNS dated 15/June/2015 states that Luke Johnson has agreed not to draw a salary but subject to shareholder approval will be granted warrants exercisable at 60p equivalent to 10% of the new enlarged share capital which would take his position up to 25.9% .

Doesn’t the repricing of the options merely bring the boards incentives in line with Luke Johnsons ?

I was going to invest in Eclectic when Luke Johnson got involved but when I read that RNS was put off by what I perceived to be Luke Johnsons greed .

Didn’t the RNS of 15/June/2015 rather set the tone for what we see now ?
Tom Winnifrith

7 October 2015, 04:31

Striebs

Luke put large amounts of his own cash into Eclectic to bail it out. As its saviour he may well get options as well. I am not arguing. What I resent is this free money for the proven failures. This is rewarding them for their failure.

T
Striebs

7 October 2015, 05:24

Tom ,

If Luke thought that these guys were proven failures he would surely have manoeuvred them out rather than given them further chances .

You are right that there is world of cronyism out there and it’s not limited to capitalism .

We have public servants awarded with gold plated pensions to buy their loyalty .

The Labour Party and the once Conservative party have made it clear that they will no longer tolerate the little people attaining financial independence .

Appropriating investors money is bad enough but the real money is to be made appropriating public money .

I don’t blame you for wanting to leave the UK . The cronyism has got so bad and widespread here that if you are not a recipient of it there is little incentive to keep bashing your head against the wall for ever decreasing returns .