Re: Stan doesn't have to be on the board to make a difference!
in response to
by
posted on
Aug 19, 2010 05:12PM
You are making a very good case of proving my point about just one more reason why I find it more and more difficult to trust them. They may have many legal means of keeping their places on the BOD. They even have a war chest to hire lawyers to keep some people at a distance because of fear of legal entanglement. Even when the share price has tanked and many many many shareholders ( by that I mean numbers of shares ) do not want some or one of them there, they may use many tool possible to hold tight and get paid. So far, I see many commenting that those fees paid to them are huge and unjust. All this while the share price is has fallen to the teens.
I believe shareholders can offer value to the company. Of course the board has to be willing to listen to the shareholders. And I think you would agree that not every comment from a shareholder is going to alter the perception and actions of a board. However, when so many shareholders are voicing similar or like insights you would think a responsive BOD would respond in a meaningful way. IMO they would make the changes or explain why the changes are not going to be made.
If they welcomed insight and comments from shareholders why would they have the SHM in Chicago in the middle of the winter? I am still waiting for a explaination from them on that one. I dug around for all sorts of business dealing type reasons why the meeting was being held there. I believe I have the answer. However, the board has yet to offer to my satisfaction their justification for having the SHM at the time and place they did.
If nothing else I would think the current BOD would take some time and effort to reestablish some more trust from the shareholders. I think they would be buying and holding tons of shares and letting the public know about it. They could be getting paid in shares that they can't sell for a certain period of time or until it reaches a price of $2.00.
Believe me I want a BOD that I can trust, but now for me to have my trust in this BOD restored I would have to see increased share price, MMP liceses and revenue, and some more frank explainations about what is going on.
I'll ask this question, what can the current board do to restablish a sense of trust from the shareholders?
And I'll ask another question, is it too late ( for them or for us) ?