Muddy Waters Offers to Pay for Olam Debt Rating

November 29, 2012

Olam’s response to our November 27th report is remarkable in that, despite being 45 pages long, it fastidiously avoids addressing the vast majority of our points. The response is essentially a waste of toner, as much of it consists of canned presentation slides and consultant drivel. Where Olam’s response attempts to be substantive, it contains numerous instances of irrelevant information, factual inaccuracies, misleading statements, and mischaracterizations of our report. However, the response does demonstrate Olam’s continuing deluded denial of its fiscal problems. It seems the Titanic is still heading full steam toward the iceberg.