Richard Geffond, the CEO of IMAX Corporation (USA) (NYSE:IMAX), was on Bloomberg’s “In The Loop” discussing the issue of stock manipulation and how the company no longer considers the U.S. as its growth engine. The discussion also touched the job creation challenges in an age where civilization requires higher-quality jobs.
IMAX Corporation (USA) (NYSE:IMAX) operates in the entertainment industry where the company specialization in motion picture technologies and presentation.
Talking about transparency in the stock market, Mr. Geffond said: “All kind of weird things happen to your stock during the day.” He noted that as someone running a public company, there is so much concern for him about transparency. His view is that among the stock trading challenges for him as an executive is the issue of the shorts that he said don’t have to care, and there is not a lot of exposure in the trading.
Mr. Geffond acknowledged seeing some funky trading partners that he doesn’t understand on the stock IMAX Corporation (USA) (NYSE:IMAX). Of course, those are some of the suspicious practices that the CEO thinks “there definitely needs to be a window into it.”
Focus on Asia
As for the future of IMAX Corporation (USA) (NYSE:IMAX), Mr. Geffond said the company no longer thinks of the U.S. as the growth engine. “It is much more Asia; Taiwan, the Philippines,” he said.
He also disclosed that the company operates in 38 countries, and the U.S. is its moderate market, saying it is “not as good as it looks, or bad as it seems – somewhere in the middle.”
However, as much as IMAX Corporation (USA) (NYSE:IMAX) thinks it has strong opportunities outside the U.S., especially in Asia, Mr. Geffond expressed his concern over the job situation in the U.S.
“Other parts of my life it is hard not to see the economy strengthening.”
He noted that although technology is creating more productivity, it is having a drag on quality jobs.