Although the statement you cited, Richard, is rife with the standard boilerplate that fills securities filings, e.g.
"The company's business depends on the sun rising each day. While the sun has continually done this since recorded history, there is no assurance that it will continue to do so. Furthermore, it only has a limited supply of fuel and is slated to supernova in some xxx billion years."
You do have a good point about management though. As most on the thread probably feel, the appointment of a high-quality president is essential for the company--my hope is that it is someone from a highly respected consumer, retail, or entertainment company, ala Disney, Coke, McDonalds (maybe not this one!), etc. Lord knows AOL went crazy after they appointed that fellow who had worked at MTV and turned around Six Flags.
Re Berman, it may be an open question as to whether the stock might not just rally if it was disclosed that he planned to spend less than 15% of his time. A high-quality president would hopefully distance him from the company in the minds of some on the Street. |
