stillpoint / Re: From Scanned Doucument
in response to
by
posted on
Dec 17, 2010 10:08PM
Well, seeing as you're calling out who's missing the point, let me help clarify what you so obviously are missing.
You wrote earlier: "I don't get why there continues to be this concerted effort to direct the focus at the BOD."
Your positions were that shareholders are to blame for the stock price performance and that people like me don't understand the magnitude of the Leckrone dynamic.
Neither you and I or Dan Leckrone had anything to do with what the company did with the $125M it earned from the MMP. Hopefully that aids you in "getting" why the focus is on the BOD.
For years I and many others both here, and to the company directly, pointed out the very obvious items that the MA contained that would lead to the situation we're in now and challenged the company to act. The company dismissed those admonitions and assured us they were unmerited. Hopefully that aids you in "getting" why the focus is on the BOD.
PTSC still has $25M in assets (at least as of 8/31). Our BOD has decided having a virtual meeting would be a more appropriate cost saving measure than holding themselves and our management team accountable for their poor performance through lower compensation or replacing themselves. Hopefully that aids you in "getting" why the focus is on the BOD.
You can only complain about others' focus on the BOD's poor performance, rather than being able to articulate the BOD's positive performance. They continue to deplete the company's resources. Hopefully that aids you in "getting" why the focus is on the BOD.
Lastly, perhaps you should consider that the BOD's insistence on maintaining their positions, fighting any attempts to dilute their power, and continuing to draw their gluttonous compensation is what is maintaining the focus on the BOD.