I Notice Messages....
posted on
Dec 23, 2009 12:26AM
From Ron on the Yahoo board addressing this discussion re: BoD on Agora. He makes a couple of really good points. He correctly states that any potential new investor doing appropriate DD would note the PPS performance over the years (particularly the last three) and the SEC filings. True, that should absolutely suggest that the BoD/management at PTSC has not performed as expected/desired. Agreed.
But he also says that some here "have it right". While I agree that much of what has been said is true - the BoD has underperformed - I have to ask how harping about it repeatedly is "right".
Yup, an investor doing DD would discover this for themselves. So harping about it does what?
And, as always, no proposed solutions. NADA. Trying to shame the BoD into resigning hasn't worked, and won't work, period. Reality.
I believe it was Ease who stated that if someone where he worked hired an ineffective person, fired him/her, hired another, fired them, etc., that someone would be fired. Probably so, and rightfully so. Reality: we can't fire these people.
Where I've worked, if someone constantly approached management with problems and had nothing to offer in the way of possible solutions to those problems, that someone would never advance in the organization. And if that someone constantly approached management with the EXACT SAME PROBLEM, repeatly, never with any proposed alternatives in the way of solutions, that someone would most certainly be fired in pretty short order.
Where Ron has it wrong in his message IMO is where he suggests that those expressing any optimism are completely wrong in doing so (but criticism is right), and have always been wrong. But those that "have it right" are the ones saying that as long as this BoD sits, the company is doomed - and any investment in this company is doomed.
With this mind set, and nothing in the way of viable proposed solutions to the "BoD problem", why are ANY of you invested here? Another thing I'd REALLY like to KNOW.
There must be a reason, and it must involve some level of optimism, and it must take into consideration the reality that the BoD (the 3 amigos) isn't going anywhere. Look at your proxy.
SGE