Monday, June 28, 2010

Everest Financial to Wind Up Business

Following a strategic review, Everest Financial Group is to wind up the business, return capital to shareholders and transfer the funds under management to other firms. I have units in the EAIT and EDIF funds and am a shareholder in Everest Financial. This once seemed to be a successful business but the GFC hit it hard. Particularly damaging were the actions of activist hedge funds that resulted in reducing funds under management to far too small a scale for the company to go on. The book value of the shares exceeds the market value so hopefully we'll get something decent back and hopefully a decent manager will take over EAIT and EDIF.


Anonymous said...

Hello. :)

I ran across your site from a Google search, and it led me to a blog you made about the cost of moving to Australia. On that blog, you mentioned that a moving company quoted you to move your things from door to door. Might you be able to tell me which company you received the quote from and perhaps your review of the moving company please?

Thank you much!

mOOm said...


I dug into my e-mail and found one from my mover to me:

"Hello Moom,

We are the international department for Mullen Moving & Storage....

Anita Figgs
Intermove Ltd
3 Simm Lane Unit 2h
Newtown, CT 06470
Fax: 203-270-9081/9311

So I first selected Mullen as a local company who then contracted it to these Intermove people to do the international move. From what I remember everything went very smoothly. I did the majority of the packing myself (except the largest items). I got the stuff as fast as can be expected a the Australian end and they brought everything into my apartment properly. So no complaints at all. You might phone Intermove and ask who their local agent is.

Anonymous said...

Ohh thank you so much! I will be sure to give them a call.