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Theory of Relative Value

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Einstein Group PLC, the company that has the rights to Vladimir Kramnik's world championship encounters and that organized the Kramnik-Fritz match in Bahrain last year, announced that they have received over a million dollars in loans "to pay existing creditors and to satisfy working capital requirements." That means bills, salaries, and rent, not organizing a Kramnik-Leko match! If they default on these loans, the lenders may end up with the subsidiary company (Intellectual Leisure Limited) through which Einstein has the contract with Kramnik. Not that it's been worth much to either of them as far as I can tell. Good luck, Einstein. Spend it wisely!

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    This page contains a single entry by Mig published on February 26, 2003 9:57 AM.

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