Gary,
Jeeeze. Please remind me to never arm wrestle with you in a law library! <g>
We agree. I did say in my referred to post I had I'm just fine with big salaries and bonuses for good work. My comments were on the collective past performance of current management. Indeed, good people deserve royal compensation.
I would like to say that your post does have an uncomfortable portentous air emitting the flavor of future shareholder action. For this, I am not in favor and hope it does not happen as soon as there are funds beginning to fill the coffers. This would not be good for any of us.
You then summarized:
The essence of my post here is that this is a good company that has the
promise to be great. I think that CCEE will trade at higher price levels
DESPITE the drag placed on the company by the unqualified, and under
performing father, son and CFO. On the other hand, how much quicker
would the recovery be if the board of directors bit the bullet and replaced the
drag with respected, able and qualified officers. In my opinion, the board of
directors has no choice but to vote that each of these three must be retired
or exchanged; and the board of directors is on notice that it has peaked the
interest of at least this shareholder, who will be watching to see if the
members of the board understand the magnitude of the duty each member
has assumed to the shareholders.
Simply excellent. Your final succinct paragraph sums it up in a harsh but truthful light. You point out why the need for change is integral to growth and is vital to survival. The collective result would be good for everyone including the present management.
The present guard will certainly retain some position. If change is effected with dignity they can be looked on as the ones who were instrumental in starting the whole company on the road to international success in the first place. To resist such change for the obvious collective good would be born out of ignorance, fear or ego. If even 25% of what we are hearing comes to fruition, the naked truth is change will happen irregardless of any unwarranted personal resistance. It will be up to present management on how they want to be viewed in the future.
George |
