"... but if you accept my premise, I still think current shareholders should sell rather than waiting for the MMC to save them."
Perhaps we can agree that each shareholder will be motivated differently.
Judging by the posts, there is a small group of investors who support Markham. Some of them are posting as you: that investors should be guided by "business" decisions.
Since Markham alone has the key information that is needed to facilitate financing, that "logic" has a certain appeal. It ignores all previous evidence that Markham's business acumen is highly questionable, gives Markham a "pass" and resets the starting line at the AGM.
Just what Markham wants.
For others, it comes down to too many unanswered questions, some obvious bad decisions, and irreversible losses, under existing management. Too late, many shareholders recognize their mistake.
They've already paid the cost. Rightly or wrongly, they believe they have little (or nothing) to lose. They'll vote accordingly.
I think where we differ is that I see a lot of emotion on the question of management change. I used to attribute this emotion to malice.
Now I recognize that many of the posts - and the posters - were motivated by a huge sense of injustice.
It'll be interesting to see how it comes out, Dave. Perhaps, as you say, decisions will be made on an analytical basis. I can't say you're wrong.
It would be interesting to know how others feel. There will be many unknowns, and the decision will be difficult for some. Not so for others. It's already been made.
Regards,
Jim |
