When All Else Fails at GFL, Float Yet Another Rumor (While CEO's Yacht Floats in Paradise)
On a market holiday in the U.S., no less.
Note: I’ve been extra quiet over the past two weeks, focusing on The Big Move, which I detailed at the tail end of this Wrap. I’ll be back up to nearly full steam next week, with a few other disruptions in coming weeks during various phases of the actual move. Thanks for your patience. You might say: This is how we spent this year’s summer vacation! But then I saw this news, and I had to take a break from the break to say a word or two…
▶This one is SO predictable…
I arguably have spent way too much digital ink writing about the drama and dysfunction surrounding GFL Environmental GFL 0.00%↑, North America’s fourth-largest waste and environmental company. For a good summary, check out my latest from a few months ago, headlined, “The Games GFL Plays”…
I wrote that one after the stock had just-about round-tripped from my first salvo nearly two years earlier.
So, here we are on a market holiday in the U.S. – the Friday before July 4. That’s a day historically companies have tried to sneak out bad news.
One of my faves was an 8-K from Computer Associates on July 2, 1999, where it disclosed it was changing its auditors. It was a meaningful disclosure; the company had been under scrutiny for accounting chicanery – back when such things mattered. The filing hit on a Friday, when the markets were closed – and when everybody was on vacation.
Enter GFL…