Just now I came across this blogger and blog Financial Skeptic writing about Ethan Allen furniture and its CEO Farooq Kathwari. Now, I grant you, I know nothing about financial management, and can’t make any judgement on Kathwari’s action, but it seems this blogger is questioning a recent announcement by Kathwari.
Revenues for Q4 are positioned as pretty good but overall revenues for the year dropped some 31%
Then Farooq Kathwari, Chairman and CEO lets you know that the real earnings results will be coming out Aug 12 which is three weeks in the future. Farooq you need a remedial class in disclosure. Coming out three weeks early and singing sunny sky’s has pretty well signalled to the market what you expect the final results to be. Hopefully now that everyone is warm and fuzzy you will not release a little bit of bad news when the market is no longer looking.
But seriously Farooq there may be a few lawyers who want to talk to you.
Then here is a straight news story about the Ethan Allen announcement.
So why do we care? Farooq Kathwari is the Kashmiri-born Chairman of the Board of Refugees International and it’s always a good idea to follow the activities of those in the refugee industry. Don’t the Democratic Alinskyites call that opposition research? Ha, ha, ha! I just noticed the name of a former director of RI—George Soros! That says it all!
Here is my most recent post on Farooq Kathwari in which investigators Rabinowitz and Mayor say that Kathwari is connected to Islamist groups. In that post I noted that Refugees International was lobbying to help Iraqi Palestinians resettle in the West, but was silent on the much larger number of Christian Iraqis. But, I can happily report that RI is no longer silent on Christian Iraqis, here.