It’s more than that wheels down, it’s survival. AJ doesn’t want VA to struggle and be bailed out because he knows it will eventually happen to the mighty QF as well, that is a handout. And with that handout will come some very restrictive conditions.....regulation at the executive management level. That’s what AJ fears most. So if VA is bailed out standby for AJ ‘ oh we can do it out own’ rhetoric for a little while, but then the hand will come out. The capital raising last week reeks of desperation.
just my 2 cents worth, and in the interest of transparency, I’m pretty biased. And some may say I’m desperate too, probably am..