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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: john.d who wrote (1447)10/3/2000 9:08:56 PM
From: Ally  Read Replies (2) of 1571
 
The sudden booting of doug may have something to do with McQueen's article, exposing the conflict between him and BOD. BOD was probably upset with Doug, suspecting that he had probably talked to McQeen. Shame on Nelson for being so enthusiastic over Doug last year... he needs to take a course on how to recruit key executives. Too bad for shareholders to suddenly learn of the conflict in vision between CEO and BOD. Who's vision is right for shareholders... carrying on with ERP expansion, or re-make the company? Who knows! I just hope that BOD are not thinking backwards with their brains stuck in the dinosaur era. OTOH, they may have to get rid of Doug before he went into a re-making spree that could cause worse problems for the company.

We'll just have to wait and see what the BOD and its new management lackies can do. The nice thing is that the company is asset rich, quite debt free, strong cash flow from the large customer base, and a stock price that is cheap, cheap, cheap. However, this is no credit to the monkeys (Nelson and BOD included) who have so far managed to wipe out millions of shareholders wealth. If the situation continues, be sure to bring bananas to the next annual meeting and smack their asses! If you have diversified your investments appropriately, the loss is easily recoverable. Unlike the respect for Nelson and BOD if this recent action does not lead to better stock price.
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