Coming on the heels of the month with some of the lowest U.S. military fatalities in Iraq and a civil war that didn’t get off the ground, investors in Zarqawi’s Al Qaida in Iraq are looking for a turn around.
Al Qaida in Iraq is owned by the Hedge Fund Jihad Inc. which owns a majority of the shares.
Last week, Jihad shareholders shook up Al Qaida in Iraq’s upper managment, promoting Abdullah bin Rashed al-Baghdadi to CEO.
Zarqawi will stay on as Vice President of Jihad operations.
According to insders, Jihad shareholders wanted Al Qaida in Iraq to move away from the killing of innocent Iraqis sector which, after more than a years efforts, have failed to jump start a civil war.
The new CEO, Mr. Baghdadi is expected to focus Al Qaida on its core business model, carrying out attacks against coalition forces.
Analysts said that it has been more than a year since Al Qaida in Iraq staged a major unsuccessful attack against a coalition installation.
The last attack, before Al Qaida got into the civil war sector, was on April 2, 2005, when Al Qaida failed to assault the Abu Ghraib detention center.
J.D. Johannes, an reporter embedded with a Marine unit in on the Abu Ghraib action said, “after they failed to even get close to the wire, Al Qaida gave up their attempts at spectacular media events and focused their energies on car bombing, mosque bombings and sectarian genocide. It gained them a lot of buzz in the media, but little income.”
Sources close to the Al Qaida’s leading competition, The Coalition, said Zarqawi’s ouster shows that Al Qaida has been hemorraging cash from Saudi investors and earned media ratings from western media donors for a year and has little to show for it.
Many insiders are reportedly selling publicly available Jihad shares short.