Commentary - MacArthur, Cambridge, and a joke

I read with interest the response of MI-REIT to CIT filed in SGX, in that MI-REIT was rather direct in finger pointing the current CEO of CITM, who was also the previous CEO of MI-REIT, as the cause of the major problems MI-REIT is currently facing. The root of the problem, according to the response, was because this previous CEO has decided to purchase the S$90.2 million property in International Business Park before securing any funding. This has actually reminded me of a joke I heard recently:

A new CEO was about to take over a company, and he asked the previous CEO for advice. The previous CEO handed him 3 letters numbered from 1 to 3. The new CEO was asked to open one letter, in sequence, each time the company faces big problems that cause the company share price to plunge deeply . So the new CEO took over the company, and all was well for the first 6 months. Then, problems started to surface, causing the share price to plunge deeply. Then he remembered the letters, and so he opened letter No. 1. The letter says "Blame the previous CEO". So the new CEO did accordly, and it really helped the share price to rebound, and all was well again.

After another 6 months, problems arise again, sending the share price all the way down. So the new CEO opened letter No. 2. The letter says "Reorganize". So he did accordingly, reorganizing all the departments he can find in the company. Again, it really helped the share price to rebound again.

Another 6 months passed by, and once again the share price plunges due to more problems. So the CEO opened letter No. 3. The letter says "Prepare another 3 letters" ...

In this MacArthur vs Cambridge saga, so far we have seen "Blame the previous CEO". If M&A really takes place, then we will see "Reorganize". How about "Prepare another 3 letters"?