From the depths of the Inferno came her voice: HYPE!

Out of the blue, today, an email arrived from Ms Carole Gardiner, erstwhile Director of Edwabond, and a variety of other capacities before that. I love Cape Town, I love its people, the mountain, the sea, die taal, and everything else Cape Townish. Therefore if I should receive an email from that vicinity, I am happy. However, enough about my affair with a town, here's the letter:
20090519 EMail Carole Gardiner

Publish at Scribd or explore others: carole gardiner edwabond

My and Ms Gardiner's liaison go back some months, and I think that it was in January 2009, that I spoke to her over the phone. I have mentioned the situation once before, but that is quite a few pages back. The conversation went something like this:

• Mario: "Good afternoon, I would like to request a form CM42 please. I have requested this form a number of times by phone and email, but there seems to be a problem"
• Ms G: "I don't know of such a form. What is the form for?"
• Mario: "I need the form to request my money back."
• Ms G: "You can't get your money back, you will have to see out the full five year term."
• Mario: "According to your prospectus, I am now entitled to my money back, seeing that you defaulted on your interest payments."
• Ms G: "You can't get your money back, you will have to see out the full five year term."
• Mario: "But you defaulted on ...."
• Ms G: "You can't get your money back, you will have to see out the full five year term."
• Mario: "I have spoken to Mr. Stapleton, and have had much correspondence with him, and he told me that I needed to submit a form CM42 tegether with a 'put'-option."
• Ms G: "This conversation is going nowhere. Email me and let me have the correspondence between you and Mr. Stapleton."

Isn't she cute? I remember as if it was yesterday. I also promised my wife never to use the words I used when I put the phone down again in her presence.

But then I remembered that Ms Gardiner and I have a history together that goes back many life times. The last time I was a pirate with a hook for a left hand (or was it the right hand? - anyway), and she was the admiral on one of her Majesty's ships. They had capture our ship and had boarded us, forcing us to defend ourselves. She (actually she was a he at the time) charged at me with his/her fiercely sharp cutlass and lunged at my heart .. I intercepted the steel blade with my hook, sparks flew into the air, and then I poke the thumb of my good hand deep into the soft, giving flesh of his/her eye. Since that day we both wore an eye patch. Although they captured us that day, Gardiner has never forgiven me for the loss of vision.

So I was a bit surprised to receive her letter, explaining her situation and opinion.

Ms Gardiner I respect your opinion, and thank you for your brave approach to our current situation. I am also appreciative of your role in the management of Edwafin. What baffles me is that as one that was appointed to the board during the early months of 2008 you were not aware of the impending doom that was approaching and that you only became aware of the situation in December 2008, after October and November had been months of struggle already. A number of ex-employees have written to inform this blog that they have repeatedly warned the board of impending problems. Unfortunately you also do not mention any other investments that were taken by the company in your charge after October 2008, but then you only exclude the Cape Town branch. So do we assume there were no investements made after October 2008? OK.

But let us accept that you were a minor role player in the Edwafin game, you still were a director of a subsidiary company, and even though you now have the benefit of vision of both eyes, you blithely ignore the plight that the company, of which you were a senior officer, put so many people through, the anguish, anxiety, heartbreak, emotional pain? Does not mean much to you? OK. Yet, and like Patrick (10 million plus), you consider it important for us to know, that you and your family have invested R5 million. Who the hell cares?

I respect your opinion about Edwafin's possible liquidation, there are others that share your view, while I'm ambivalent. Yet, if the directors of Edwafin had played open cards from the beginning, and if they would now stop uttering contradictory statements, it would be easier to support either side. You tell us that you "believe" that it would be better for the company to be put under Judicial Management, but like the remaining directors at edwafin, you provide us with no facts or figures. Come on, now. Is that all your learnt from Patrick: sending letters with empty statements, demanding to be believed by those you have inconvenienced so grievously?

You have another belief:

"I believe that the matter is being capably handled by the judiciary and that we should rather await this decision, desisting in the interim from further hype and speculation."

Hands up those who do not believe the judiciary is handling the matter capably! Of course we all agree with you, that is why we are waiting with abated breaths, "waiting for its decision". I tell you who had no confidence in the judiciary, it was Patrick and fellow warriors. They sent out questionnaires, with votes for and against liquidation or Judicial management; they arranged meetings for the investors with the purpose of convincing them with sweet sounding words. I must admit, reality is playing games with me, its like having an argument with my ex.

Then comes the clincher: "desist from hype and speculation. " Amen (Oops that was naughty of me)
From the dictionary: hype
1. (n.) Information disseminated to gain acceptance:
• publicity, advertising, promotion, puffery, circulation, write-up, buildup, promulgation, plug (colloquial)
2. (v.) To make known vigorously the positive features of:....

This blog talks about the difficult situation we, the investors, find ourselves in. Many statements are received that are not published for fear of retribution. Yes, it is true, that at times we speculate, and in view of the lack of transparency from Edwafin, who could blame us? Edwafin could not look after our interests so we have to do it ourselves. But considering the utterances from the majesties of commerce at Edwafin, who on earth is hyping whom?

It ironic that you end your letter with the same hazy, neither-here-neither-there promises of possible investments - an old Patrick-trick that we have heard him expound since early November 2008. Now that you have the sight of both eyes back, can't you see that the investor needs factual information - not just vague, misty, bedraggled statements of futuristic events. Sies man.

You represent an archetype I do not trust... and no, I have no questions for you.