An Enron moment –– def. when an accounting ploy to offload toxic assets to an unconsolidated LLC backfires. The Bancorp’s Continuing Problems The Bancorp (NASDAQ: TBBK) is a publicly-held Philadelphia regional bank with a diversified loan portfolio, but also known for being one of largest issuers of reloadable prepaid debit and gift cards in the …
Continue reading “The Bancorp Is Having An “Enron Moment” With Its Unconsolidated LLC”
Advice First — Then Analysis: Coinciding with a new CEO Damian Kozlowski, The Bancorp (TBBK) has been forthright in taking additional markdowns on it discontinued commercial loan portfolio. But, this has resulted in three successive quarters of unexpected losses followed by double digit percentage declines in its stock. This article will present the case that …
Continue reading “The Bancorp (TBBK) : An “Extend and Pretend” Loan Operation That Won’t Go Away”
If the tagline for AngelList has become “The LinkedIn for Startups”, will the tagline for Product Hunt become “The Launch Pad for AcquiHires”? To me, the acquisition of Product Hunt is another signal of the narrowing of business models for standalone apps. Product Hunt was never in the running to scale enough to attract advertisers. …
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Kabam (Private:KABAM) is a mobile game startup based in San Francisco that had early success at developing games based on movie IP licensed from major studios like Disney’s Marvel studio, Warner Bros., and Lionsgate. Beginning in 2014, Kabam started timing new releases to coincide with the releases of mega-hit movie sequels like Fast and Furious …
Continue reading “Kabam: An $800 Million Bid That Is Both Lifeline and Death Knell”
Summary On September 29th, The Bancorp will hold a special meeting of stockholders to vote on a $74 Million secondary offering. The terms and conditions are an insult to existing institutional investors and there is evidence that The Bancorp genuinely fears that a NO vote might win. If a NO vote wins, the deciding votes …
Continue reading “The Bancorp: Oversold Says Richard Thaler’s Behavioral Finance Fund”
