The next BLK, page-12

it's ALL about getting it cheaply

He owns $6.6m MKO and $1.1m EAR

Ruane's play will be to trumpet MKO whilst running EAR down.

Create the littlest EAR as possible before offering an MKO lifeline.

(Not suggesting breaking any laws but Directors do it all the time. Run a company sp down before offering the last-ditch director-loan or converting backed-up director fees for stock, or u/w'ing an on-our-knees rights issue... 2 mths later unveil the big value creation)

If he can do that, happy days MKO.

If he fails, much of MKO's value will be lost.