G. Michael Bennett Speaks (CAGC, SHZ, etc)

This week, G. Michael Bennett, or as we know him around these parts “GMB“, has made the news not once, but twice. (New readers can catch up on the GMB saga here, here, here, herehere, and here.)

Commenter salishseafarer brought to your author’s attention a great article on GMB by Dune Lawrence and Nikolaj Gammeltoft that was published in Bloomberg Businessweek. Check it out here. Among other great finds, Lawrence and Gammeltoft completly debunk Gene Michael‘s idiotic Grant Thornton assertion. Readers surely remember that one, where GMB thought that he could claim to have worked at Grant Thornton because a company that he once worked for once was “in negotiations” to merge with a company that eventually merged with Grant Thornton! The article states:

While Bennett did work for Gerbel, the company never negotiated to merge with Grant Thornton or its predecessor, said Marcia Graham, firm administrator at Gerbel who says she’s worked there for 41 years. Kristi Grgeta, a Grant Thornton spokeswoman, was unable to confirm any relationship with Gerbel.

Gene Michael caught in yet another resume padding lie. Is anyone surprised? Well, perhaps the stuckholders at Glickenhaus & Co. would be surprised if they could just put down the Kool-Aid for a few moments. Check out Jesse GlickenhausPing Luo-like defense of CAGC here.

Also this week, in a China Agritech (CAGC) press release the great one spoke about his Chairmanship of CAGC‘s Very Special Committee which hired a law firm, that then hired its own accounting firm.

“We are pleased TroyGould and BDO China, which have outstanding capabilities, will be supporting the Committee in the full investigation of these issues,” said Mr. G.Michael Bennett, Chairman of the Committee.

Considering that GMB chaired the Audit Committee that clearly saw nothing wrong with organized-crime linked CAGC CFO Gareth, one can only imagine how dilligent the Very Special Committee will be. It’s like having Pol Pot leading literacy programs. Notably absent from this press release was any mention of CAGC’s former flack, the blogger-threatening Kevin Theiss. Perhaps Kevin is no longer representing CAGC?

And, if all that was not enough for Gene Michael fans, it turns out that he has recently put up his very own, super-duper, website right here. It is marginally better than the AGBA website, which is here, though it seems Mr. Bennett does not know how to properly capitalize his very own name. “G.michael bennett“? His primary school teachers must be so proud.

The site is chock full of win. Right up front, on the home page, G. Michael Bennett is not shy about asking for a job:

I am seeking to sit on your Board of Directors on the Audit Committee or to assist and guide your Advisory Board and/or consult with you and your firm. Below is what helps make me an ideal candidate and able to help you in expansion.

GMB must know is end is near for his current collection of Chinese reverse-merger trash, thus his desperate attempt to find new grist for his value-crushing mill. Yet, Gene Michael seems to have zero clue about what a Board of Directors is actually supposed to do:

The Board of Directors has the obligation to bring its expertise, experiences and contacts in a focused approach to guide the firm to increasingly higher levels of success. This includes avoiding negative risks that can undo all the good you have done. And, as a public company and listed on any major exchange you are required to have a Board of Directors and an Audit Committee and the  members must  be independent.

Not once does he mention a Director’s FIDUCIARY DUTIES to the Shareholders. In our capitalist system, the Board of Directors is there for one thing, and one thing only, to maximize value for the shareholders. Nothing else. To be on so many boards GMB must maximizes someone’s value, but whose? Certainly not the ordinary shareholders.

He is also pretty clear about what makes “Advisory Boards” just so fantastic:

For top management a key advantage of the Advisory Board  is that it is not regulated by the SEC and  will reports directly to top management and is not bound by the rules and regulations as is the Board of Directors. The Board of Directors must by law report directly to the Shareholders.

Actually advertising his expertise in getting around rules and regulations? Amazing.

Moving on to the Services page on his site:

I have extensive audit, accounting and business relations and  development experience and can be more than just your “eyes and ears” on the ground here in China. I can also be your “rainmaker” and partner/associate if this would prove beneficial.

Yes, your eyes are not deceiving you, Gene Michael wants to be your rainmaker! But the real nugget at gmichaelbennett.com is the Mission Statement. Sayeth Gene:

Ensuring your success. Combining professionalism with a focused drive to succeed, thus providing what others only can try to emulate.

So very true, others can only try to emulate the one, the only, G. Michael Bennett. Make it Rain Gene Michael, Make It Rain!

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.

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