Good work Scott. Very well researched post.

Unfortunately CLL does not have any major shareholder who could start asking the question. Institutional investor left the CLL in December by taking advantage of the rumours and selling over 100 million shares.

Not very often we see this mess in Canadian corporate governance.

Just a while ago CLL Governance Committee on behalf of the Board presented the succession plan. Shortly after Board of Directors appointed Peter Sametz as President of The Corporation and named as Gusella`s successor.

The same time The Board approved Gusell`s retirement allowances of $2 million.

We can only speculate what has happen in late December 2011 and why we had the dramatic revolt on the top. One thing for sure, this will not be received well in the investment community.

On the lighter note.

It looks like DG did not consult his BNN interview with Rebel. Apparently DG suggested that Obama`s problems are inherited from the Bush administration including a big debt. Finally somebody got this right.