burkehayden

Posing the Right Questions to National Atlantic

As an attorney let me commend you on your seemingly soft questioning of the witness. Something is rotten in Freehold for Gorman to rush to accept $6.25. Sure he comes out ahead. He gets the Company to purchase tail coverage to protect his ass-ets as well as getting his employment agreement honored. If he wanted to retire he should have just quit and let someone else run the Company, or as you suggest, run-off the Company.
I have never understood the financials on NAHC. It never made money once the book transfers dried up. Do you have any idea how the Hovde's are going to proceed? If they vote with Gorman you and like minded shareholders will have an uphill battle.
The other issue is why no other suitors have appeared. If $50 million is being left on the table someone should come forward to try to grab it. The contract is silent on the amount Palisades gets if their deal is not taken. I doubt whether it approaches $50 million.
Anyway, best of luck. Sorry your trust in Gorman was misplaced.