tag:blogger.com,1999:blog-4815867514277794362.post4738022932033999926..comments2024-03-08T06:18:28.125+11:00Comments on Bronte Capital: The Sino Forest Independent Committee Report part 1.John Hemptonhttp://www.blogger.com/profile/03766274392122783128noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-4815867514277794362.post-2858078054761489652011-11-17T21:19:37.932+11:002011-11-17T21:19:37.932+11:00The lawyer in me loves the claim for legal profess...The lawyer in me loves the claim for legal professional privilege at the bottom of each page. I suspect they have put this there in some pathetic attempt to be able to deny liability for whatever lies are in the document on the basis that it is privileged and accordingly you shouldn't have seen nor relied on it... ironic given it is on the web site being relied upon to bolster their bona fides.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-87596204467788092562011-11-17T18:57:04.530+11:002011-11-17T18:57:04.530+11:00The report is a masterpiece of lawyer-speak with l...The report is a masterpiece of lawyer-speak with lots of irony presented as blank facts.<br /><br />Para 54 is a classic. At least one office only had emails going back to 10/Jun (MW report was 2/Jun), with no previous backup available. The investigators were initially denied access on 13/Jun and they were only able to begin investigations on the 15/Jun.<br /><br />Hamlet got it right "Thus conscience does make cowards of us all"Papafoxnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-172103870951746962011-11-17T16:30:38.076+11:002011-11-17T16:30:38.076+11:00Is it even legal to own forests in China? You can ...Is it even legal to own forests in China? You can only lease the land from the government and get a "land use certificate" if you were a property developer. I am surprised that SinoForest can "own" the forests. If they don't, then how do they value them? At cost - which means the amount they paid out? Paid out to whom??Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-63831841927026687792011-11-17T10:01:41.344+11:002011-11-17T10:01:41.344+11:00it is Bronte that spins and spins...along with Car...it is Bronte that spins and spins...along with Carson and the Globe and Mail wanna be social activists.Christiehttps://www.blogger.com/profile/01247519802239228499noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-59293883046404289472011-11-17T04:59:49.853+11:002011-11-17T04:59:49.853+11:00also see para 61. verbatim:
61. On June 9, 2011,...also see para 61. verbatim:<br /><br />61. On June 9, 2011, E&Y informed the IC Advisors that a central searchable online <br />database was publicly accessible that would enable the IC Advisors to validate <br />timber holding certificates held by SF. The IC Advisors acted on the information <br />provided by E&Y and attempted to access the purported registry; however, when<br />the site was checked, it appeared to be a private site (as its domain name did not <br />end with “.gov.cn”) which had been shut down temporarily. When subsequently <br />checked (on September 28, 2011) and the site was active, the IC Advisors <br />observed that the site data was incomplete with very limited coverage on one <br />county in Guangdong Province and did not include forestry bureaus at which SF <br />PRC’s were registered.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-65884508663468708042011-11-17T04:35:03.889+11:002011-11-17T04:35:03.889+11:00The new CEO Judson Martin seems to be using his re...The new CEO Judson Martin seems to be using his real estate and TV background in spinning the report, when you read the interim report it does not look anything like the executive summary; while Chinese business is a Wild East capitalism when they list in the West there are certain expectations of them and they are clearly miles away from that. It would also be interesting to know why James Bowland quit the IC and the SF board just days before the report.Travel_the_Worldhttps://www.blogger.com/profile/00573271251233814981noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-75654144346514228782011-11-17T03:59:40.258+11:002011-11-17T03:59:40.258+11:00I would love a job at Bronte just so I could liste...I would love a job at Bronte just so I could listen to John run around saying 'check out these new bozos I found!' every week...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-44936294842230710322011-11-17T02:42:10.390+11:002011-11-17T02:42:10.390+11:00Someone needs to call Simon Murray out on his BS. ...Someone needs to call Simon Murray out on his BS. His comments to the press are outrageous given his stature in the business community.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-15773141804285894592011-11-17T02:07:58.694+11:002011-11-17T02:07:58.694+11:00For those interested from this morning's Globe...For those interested from this morning's Globe and Mail<br /><br />http://www.theglobeandmail.com/globe-investor/sinoforest/sino-forest-report-raises-new-questions/article2236475/Frozen in the Northhttps://www.blogger.com/profile/04901959687094626879noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-30113007529076026452011-11-17T01:27:20.654+11:002011-11-17T01:27:20.654+11:00from the Bloomberg article (which also quotes a ce...from the Bloomberg article (which also quotes a certain messr Hempton):<br /><br />"The Ontario Securities Commission’s preliminary review of the Sino-Forest report “has firmly suggested that our investigation, which is ongoing, should continue,” Tom Atkinson, the commission’s director of enforcement, said yesterday in an e-mailed statement."Kyletestkylehttps://www.blogger.com/profile/01801796362029676133noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-75834543769738701352011-11-17T00:54:35.344+11:002011-11-17T00:54:35.344+11:00So every sentence is saying that the IC couldnt do...So every sentence is saying that the IC couldnt do this, couldnt confirm that, couldnt meet this person, didnt find that and yet the IC is confident that the forest exists? Hooray for Chinese Corporate Governance!<br /><br />JZAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-67133085576060098202011-11-17T00:27:09.118+11:002011-11-17T00:27:09.118+11:00Good thing you presented para 83 verbatim and didn...Good thing you presented para 83 verbatim and didn't highlight the red flags, it would have ended up a bloody mess.<br /><br />Para 83 does make for remarkably humourous reading, of the deciphering-tangential-BS sort.<br /><br />My advice isn't even worth what you paid for it, but I don't think you should cover your short yet John.... ;-)Daniel Chisholmhttps://www.blogger.com/profile/16717928498157215246noreply@blogger.comtag:blogger.com,1999:blog-4815867514277794362.post-85070690780607627492011-11-16T18:41:24.216+11:002011-11-16T18:41:24.216+11:00Personally, I like para. 141 where the IC advisors...Personally, I like para. 141 where the IC advisors are kicked out of the Sino Forest offices.mkyeghttps://www.blogger.com/profile/16745521095335453670noreply@blogger.com