Sell The Company By Giving Away Its Cash

from the wait-just-a-second... dept

No matter how you look at it, the math is just funny on this one. Guild.com sold themselves to Ashford.com for $3.5 million. This wouldn't be so odd if Guild.com didn't have $11.5 million on hand already and debts only for $1 million. As some company insiders explained it was as if they paid Ashford $7 million to take the company off their hands. Of course, some of the math has to do with this being a stock transaction, but at some point you'd think someone would step in and stop the deal from going through.