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Real Estate News And Advice
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December 2, 2009
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Response To: |
No Listings For Bank Of America, Says Realtor.com
(Blanche Evans - 05/08/2001)
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'Mistakes'
Posted By: insider_truth - 05/09/2001 08:33 AM
How many "mistakes" are you allowed to make before you get in trouble if Yours is a public company? Did the stock not rise considerably on the press releases of this deal? Is it legal to announce a multi-year, multi-million dollar deal that is signed sealed and delivered and then say, after the stock skyrockets say, "Ooops, maybe we should'nt do this multi year, multi million dollar deal, but lets not call it off just yet, the stock is doing too good to do that"?
Is this really something B of A wants to be embroiled in? Are the listings worth that much to them? If they are worth that much, then it begs the question to Blanche, Why the hell should I pay to give them to Homestore, and then pay again to enhance them? (see http://realtytimes.com/rtinteractive/20010504_free.htm target="_blank")
I do not pretend to be an SEC compliance expert, but if I were, I would look at this situation (and others) with the listings, the announcements, the subsequent back peddling and the overall timing as extremely dubious.
Could it be that Cendant is mentoring the management of Homestore? If memory serves me correctly they've (Cendant) had their share of problems as a public company in the past, I do believe it involved "creative accounting" but I cannot recollect the exact details. Maybe someone could refresh our memories on this board.
Be careful folks, this story is far from over and I don't think BOFA is going to tolerate too much more doublespeak.
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