From
iBankCoin:
Asshat of the Week Award: Mr. Trung Tri Doan
Mr. Trung “dung” Tri Doan aka “the world’s ugliest CEO” is an abomination to the stock exchange. This grotesque man, through greed and gluttony, brought his disgusting company public, LEDS, back in December of 2010. On their very first earnings report, they miss by a fucking giant football field, highlighting how fraudulent they are, with regards to hoodwinking their lead underwriters, BAC, BCS and JEF. Let me repeat: there is no fucking way the perverts over at LEDS didn’t see some sort of weakness, prior to disclosures filed for IPO.
ASSHAT!
On earnings call, LEDS mgmt says the see a sustainable gross margin range of 44-46%… Mgmt noted that they are experiencing pricing pressure that they did not see a month ago. They said this is primarily due to a customer moving to a competitor, due solely to better pricing. This quarter, the company will remain focused on new high performance products, and improving pricing power. They expect to produce an additional 10 mln chips per month from the Taiwan facility, doubling capacity… During Q&A, when asked about which competitor the customer went to, mgmt says there is only one competitor producing high performance LEDS like they do. Says the loss of the customer was in Taiwan… LEDS is -34% in the pre-mkt, currently trading -33% at 19.18.
Mr. Trung “dung” Tri Doan (yes, that really is his fucking name) isn’t ready to be a CEO for a publicly traded company. He should stay in the fucking lab, building idiots lamps, instead of fucking people over through gross negligence. I am sure that beast of man is grinning right now, as his shareholders lose their faces in pre-market trading.
As a result of this enormous earnings fraud, other LED related names are getting hit (AIXG, CREE, VECO), including my RBCN. However, do not misconstrue the health of the industry, based upon the deviant mishaps of a Mr. Trung Tri Doan. The LED market is still in its nascent stage, as the idiots from China require street lamps and things of that nature. In other words, I’m handing out Asshat of the Week awards again, and Mr. Dung is getting the first of 2011.
