GM may also be a long term Ballard customer as they have been purchasing Ballard fuel cells for some time now. and, although GM has not advertised the fact, I'm told that the fuel cells used in their new Opel Zafira that was displayed at the Paris Auto show, were Ballard fuel cells. From my perspective, it's all coming together. Fuel cells are well on their way to becoming a new growth industry and Ballard is a leader in the PEM class of fuel cells. My Investment Advisor reminded me recently that if you want to be a successful investor, you invest in companies that are leaders in growth industries. A few examples are Cisco, Merrill Lynch, Microsoft and Yahoo. Most analysts find it difficult to place a valuation on Ballard because it is a new developing industry. But, almost without exception, they are very positive on the quality and track record of Ballard's management.
Unfortunately, there are many who have invested in BLD who know very little about the company or its management's very positive track record and high caliber personnel. As a result, they tend to react to articles with a negative slant by selling their shares, only to discover at a later date that it will cost them more to get back in. I think we're seeing some of that happening today.
A good example of the caliber of senior executives hired by Ballard is Michael Graydon, recently appointed as Vice President and Chief Financial Officer. He chose to leave Toyota Motor Manufacturing Canada in Cambridge, Ontario where he most recently served as the General Manager, Production Control in one of the most successful Toyota plants in the world for quality and productivity, with production capacity of 200,000 vehicles per year and over 2,500 employees. So why didn't he stay with Toyoto? I expect he wanted to be involved with an organization who is not only on the cutting edge, but also the leader in a new growth industry. |
