Final Word from Wednesday, March 25, 2026
Czechoslovak Group had a successful IPO on Jan. 23, helping to make Michal Strnad the 69th-richest person in the world, but it's been one piece of bad news after another since then. PM Andrej Babiš withdrew Czech support for the ammunition program for Ukraine; Babiš defied calls from U.S. Amb. Nicholas Merrick to increase defense spending this year; the police started reviewing old defense contracts; CSG failed to make a material disclosure in its IPO prospectus; CSG's Tatra Trucks failed to agree with minority owner Promet; and a minority shareholder of CSG Land Systems spoke of a breach of trust. CSG's share price was down yesterday 16.5% from the peak. And now a terrorist group, The Earthquake Faction, has warned companies doing business with Elbit Systems of Israel to cut ties with Elbit or to expect a visit. Tatra Defence Vehicle boasted last year that it would be making Pandur 8×8 EVO vehicles with turrets from Elbit but, unsurprisingly, CSG didn't mention it as a risk factor in its prospectus. [ Czech Republic LPP Holding Pardubice terrorism initial public offering ambassador ]
Glossary of difficult words
IPO - initial public offering of shares;
to defy - openly to resist or to refuse to obey;
material - (in this context) significant; important;
disclosure - (in this context) the release of essential company information that helps investors make informed decisions;
breach - an act of breaking or failing to observe a law, agreement or code of conduct;
peak - the highest price before a reversal;
turret - a low armored tower, typically one that revolves, for a gun and gunners in a ship, aircraft, fort or tank.