Based on yesterday's 13-G filing, David Slager's new management company (Regals Management) is now the proud holder of 22,543,531 shares of LGDI (10% of the company). He got these on the cheap from his liquidating hedge fund (Attara), and I suspect he will be holding onto those shares and perhaps working with other investors to bring the company back from the brink, or at least that's what I'm hoping for.

Meanwhile, DAP (Green Market Fertilizer New Orleans Barge DAP Price, updated daily) seems to be stabilizing well above $400, which should be supportive of phosphate rock prices going forward. If rock prices hold around the $200 level (IMF Morocco Phosphate Rock Export Price, updated infrequently), LGDI could be extremely profitable, assuming it can start producing the damn rock! Last I checked, China and India are still getting richer and their hungry masses are still demanding more protein in their diet, which creates huge demand for fertilizer - the original premise for owning this disaster of a company.

Maybe the big investors will kick out Gutnick and start managing the company for shareholders rather than the personal gain of management. But maybe that is wildly optimistic. Mr. Slager, I'm rooting for you!