[Bogie Shooter]

Originally Posted by Advogado

Bogie Shooter, have you read the article?

If you have, I am surprised that you would ask the question. But to answer it:

First, I don't think that I "jumped" to the conclusion the article is "ambiguous". There is nothing ambiguous about it, and I never said there was. In my view, calling the article "ambiguous" would give a bad name to the concept of ambiguity. My point was that the article so incredibly unclear, that (given the nature of the subject matter and the Daily Sun's history) the lack of clarity had to be intentional. Here is my reasoning:

I spent a good part of my career working on acquisitions and, although not a financial analyst, I think that I have a basic understanding of the issues involved in the valuation controversy here. Because I have a few hundred thousand dollars invested in The Villages and like to stay on top of matters that could impact my investments, I have spent a fair amount of time studying the documents involved in the IRS investigation. In other words, I know basically what's going on with the IRS investigation.

Despite my background, after reading the Daily Sun article, I have no understanding as to exactly what the new IRS Report concludes and of the basis for that conclusion. All I learned from the article is that Janet Tutt doesn't think the IRS knows what it's talking about. Her position is hardly surprising, but it is not particularly comforting (since the IRS has a special unit specializing in the investigation of municipal-bond abuse and deals with valuation questions on a daily basis). In any event, Janet Tutt's opinion hardly ought to be sole focus of a "fair and balanced" Daily Sun article on the latest development in a matter of this importance.

There is certainly no way that the typical Daily Sun reader, who knows virtually nothing about the IRS investigation or about present values of future income flows, would, after reading the article, have a clue as to what is going on or of its importance. Given the critical importance of the IRS investigation to Villagers and the Daily Sun's history of either not reporting or burying news stories unfavorable to the Developer, there is not the slightest doubt in my mind that the lack of clarity in this article is a continuation of the Daily Sun's past practice in this regard.

Holy S---! I guess I was wrong.