Hello Georges,
As a long term supporter of SUF, with much contact with management over the years, I'm of the opinion that they are hard working and dedicated to the cause of building the assets of SUF into a formidable company.
Unfortunately for shareholders, it has been a nightmare experience this past year and a half. Clearly, SUF does not understand that the regular shareholder is being whacked in the pocketbook because of the horrible price.
It is my opinion that the first and over-riding concern of senior management and the Board of any public company should be the welfare of its shareholders (look at Newbridge, Call-Net, etc. for comparisons). Anything less is unsatisfactory.
Whatever the reason, be it "crooked markets", be it one firm manipulating the share price lower, be it analysts who "don't understand" the assets, be it internet stocks, be it BreX hangover, whatever, it is incumbent upon management to shepherd the welfare of its shareholders.
This is not a good guy/bad guy judgement.
It is a share price performance judgement.
For all our many words and thoughts, the final referee is the share price at any given time. Right now, all long term supporters are losing.
The status quo is clearly not an option.
For example, as a shareholder today, would you prefer that SUF dedicated its personnel to their regular duties, or to an exhaustive search for the large, upset seller that is pounding the stock lower?
It is my opinion that anyone with such a large position must be known to SUF, and while it might be any of several shareholders, a few (or a few hundred) phone calls should establish the seller.
As Shaw pointed out, this is routine in the running of a public company. Any firm not prepared to deal with situations like this needs to criticized for its lack of performance. It doesn't matter whether you mine diamonds, grow lettuce, make fibre-optic cable, run dotcom businesses, or whatever. Like insuring your house, or car or other assets, the first concern must be the conservation of shareholder and market value.
Just my two cents worth.
That and 1.76 will get me a couple tacos or another share.
Confluence |
