apathy
in response to
by
posted on
Dec 23, 2010 02:37AM
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
I don't like the ethics of overcompensation for salary. I'm not going to sell Noront. I also don't like the culture of drug addiction, but I won't sell my music collection. The difference is, I own part of Noront, where I have no say over a band's management.
Also, I care about Noront. To sell would be like shooting your dog because he keeps peeing on the carpet instead of exercising discipline measures. Noront management needs disciplinary measures.
And when I looked in Wes' eyes and asked him about his compensation, I saw he knew he was getting away with something that had he would never have tolerated in another company's CEO had he been an investor.
He knew it and I knew it. And he knew I could do nothing about it.
As your reading this, gauge your emotion charge. Suppose Noront was at .85c and then Wes announced a 1 million salary, would you continue to exercise apathy or would you call for action.
Noront is at .92c
We aren't producing income.
Our CEO got 1 million dollars.
1 million times 5 years until producing income = 5 million dollars.
We are diluted at 183,333,641.
Are we all willing to pay him .027c for his 5 years of service, plus extra shares and options. Since his salary announcement Noront has gone down .32c. If he asked for 3 million a year, he would still be able to look me in the eye, and we could do nothing about it. And because of this, why wouldn't he? If Wes announced he was going to dilute Noront another 10million to pay for a company trip to Hawaii, would we continue to ignore him apathetically?
Also, if a CEO is willing to steal from a shareholder, what other immoral acts is he willing to do at the expense of shareholders. No I will not sell. Noront is my company. Noront is our company. Someone quoted me a legal section which can call for resignation or compensation if a CEO steals from or abuses his position in a company. I wish I remembered what it was called.
And I'm sure the office hates me bringing this up over and over. Because they know that several large shareholders have expressed displeasure about this subject. You can be sure that every time shareholder remind the large shareholders of company excess and waste, there is a threat of drop out.
Drop out means oversupply. more supply then demand means lowered SP.
Again, we were in the freaking .80c and could be again shortly.
Oh, now I see your point. This subject threatens to lower Noront SP yet again. So shut up StockGreed. Well here are some cleats, and let me lower my pants.
-sg