( ed. originally posted Jan 23, 2011)
Recently while perusing the latest issue of that rag hali we noticed the following announcement embedded in the editorial on page 7:
"...and Michael Franses, founder and new Chairman of Hali publications..."
Rumor has had it for sometime now that franses had purchased the controlling interest in hali publications from sebastian gandchi's backer who put up the money up to buy hali from the former owners Centaur publications.
We'd have to imagine the statement above now confirms those rumors.
It also demonstrates franses' burning desire to remain a Mr Big in rugDUMB, even though he had tried and now seemingly failed to make it big in far more lofty climbs.
It also demonstrates what RK has often said about little lord franses' dismal business skills and acumen.
After all, having dumped hali many years ago, to now throw good money after bad is both naive and stupid, as it is clear rugDUMB has nowhere to go but down and the chances hali, or hali publications, can pull out of the tailspin they are presently, and for the near future, caught in are bleak to say the least.
Clearly gandchi's investor's buying hali was not a very sound investment and even though we have heard selling a controlling interest to franses was done at a loss, at least he cut his chances to lose more.
Let RK predict franses will not do as well and soon his stake, which regardless of the fact he got it for less than it cost the seller, will prove to be nothing but a poor return on investment(ROI).
But, that said, it is clear franses is bargaining for more and needs the ego-massage being chairman of the board (COB) of hali publications lends his fragile resume; especially since as we have heard it for some time now those in the Persian Gulf, who in the past had substantially enriched franses, have now given him the old heave-ho.
So what else is a high school drop-out rug peddler to do but go back to peddling rugs?
Obviously franses knows no other game to play, and in his limited intellectual scope being able to prance around in rugDUMB as COB of hali publications is worth the cost and the sure to come loss.
Foolish and dumb move is all RK can comment.
And by the way, this small announcement of what might be called franses's second coming probably means rugDUMB will now get to see alot more of him...yeessshhh, what a revolting thought.