This is so typical of the BDK's CEO. So transparent. The bozo is retiring. He knows his gig is up and the massive housing bubble means that BDK is going nowhere for the next 10 years at least. Margins blow and competition is brutal. No way for the shares to ever get back to the +$90 level in the ridiculous housing bubble. And recent share bounce into the high $40's was not going to last.

So what to do? Attempt a hail mary sale to get a one time pop in the shares so the CEO can cash out with something. It is all about personal greed. It is also an ego play by the CEO as he is thinking in his own mind that there is no one good enough to replace him as CEO, so he must sell out. He also probably figures that he can not entrust his stock options future value to any new CEO he appoints. Too much risk given the industry dynamics. Can not afford to see the shares back down in the crapper after he retires.

Amazing that the BDK Board of Directors doesn't see through this. The BDK board is lame. If I was on the board, I would be kicking this guy's ass out of there. But I suspect that the board is getting paid off hugely too, so they just rubber stamp the deal.

Now all the BDK employees are screwed, left hanging at the end of a noose. All the senior managers who spent years on their careers there are instantly redundant. Massive pink slips coming. In meantime BDK's CEO is going to be blowing smoke up everyone's ass about how great this deal is as he prepares to move to the Bahamas.

So transparent.