Final Word from Tuesday, July 21, 2015



In its standard form, greenmail is more about greenbacks than blackmail, whereas in its more pernicious form, the opposite is true. Pavol Krúpa's greenmail attack against NWR falls into the second category; he wants a huge payout and to get it, he is apparently willing to go farther than any policeman, prosecutor, politician, shareholder, security regulator or journalist to challenge the legality of Zdeněk Bakala's takeover and subsequent plundering of OKD mines and its related companies. This is no standard greenmail, because it's not control of the company that is at stake, but rather control of the country. Unless Bakala sits down with his co-conspirators Bohuslav Sobotka and Radek Pokorný to work out a way to appease Krúpa, they could all conceivably end up in prison. In this respect, Krúpa's timing is impeccable, because they have more to lose now than ever before. Which means they should be willing to pay all that much more. [Czech Republic Arca Capital Wagner RPG]

Glossary of difficult words

greenmail - the practice of buying enough shares in a company to threaten a takeover, forcing the owners to buy them back at a higher price to retain control;

greenback - a dollar bill; money in general;

pernicious - dangerous, wicked, evil;

payout - a large payment of money, esp. as compensation or a dividend;

to appease - to pacify or placate someone by acceding to his or her demands;

impeccable - faultless; perfect.

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