Link: http://jezebel.com/5744078/sketchy-billionaire-dumps-a-chunk-of-american-apparel-shares

For the last 1-2 years, it seems like the prevailing American Apparel story has been abt their financial issues. I don't really know anything about finance/investing/buzz_companies, but it seems like 'as an alt blog', it is important 2 bring u news abt companies that are relevant 2 u. Anyways, some rich ass bro named Ron Burkle bought a bunch of Am Appy shares a while ago and ppl were like 'the company is saved!' but now it is al like "WTF he is selling off his shares. What does that mean? Is Am Appy 'going under'?'

Ron Burkle bought $6 million worth of American Apparel shares last summer. Then the stock price pretty much plummeted. Now he's reducing his stake.
Burkle became American Apparel's second-largest investor after founder Dov Charney (who owns around 57% of the company) last June. Burkle's company bought a 6% stake in the troubled clothier for some $5.9 million.

I wonder what this means. Maybe I will start an e-Trade account and start buying American Apparel 'shares' instead of Am Appy t-shirts + leggings + hoodies.

File Photo: Am Appy

Here is a paragraph that has 'specifics' on how/why American Apparel is 'in the shitter.'

Unfortunately for Burkle, and all of American Apparel's other shareholders, things went from bad to worse for the company during the second half of 2010. The share price plunged below $1.00 in late August and early September, as the company fell out of compliance with several of its biggest lenders, lost the confidence of its public accounting firm, which promptly quit, and struggled to report its financial information to investors in a timely manner. American Apparel's failure to file its quarterly results on time drew the ire of the Securities and Exchange Commission and the New York Stock Exchange, which warned it of delisting but ultimately didn't follow through, and the departure of the accounting firm earned the company subpoenas from the Department of Justice.

I wish I understood 'stock markets', 'investing', 'companies', and 'financial advising', but I srsly have $13.42 in my bank account right now. Might start watching more CNBC/reading the Wall Street Journals.

Is Am Appy still a relevany buzz brand?
Can Am Appy 'rebound'?
Will Dov 'save' Am Appy?
Can American Apparel 'go mainstream' enough 2 make mad bank, or will tweens always be way in2 Crombies and Hollisters?
Does Ron Burkle seem like a chill bro, or is he harshing Am Appy's vibe?
If u were a billionaire, what would u buy stock in? Or would u just buy tons of prostitutes?

#pray4Dov
#pray4AmAppy

If you are an American Apparel stock holder, plz use the comments section 2 talk abt how u feel abt ur investment.

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