Joe,
I happen to agree with your entire discussion.
However, the elimination of the loan privelege will have a positive effect on the look of the financials. If the situation arose to warrant the need for Gordon to again become the financier of last resort, it would be little problem to install some sort of agreement again. The situation would then dictate whether the new agreement would be better or worse than the eliminated language. The visual reminder of it's presence is the move being made by the shareholders to eliminate. I see no harm in that. The language is lost and the shareholders then feel the potential for share dilution is reduced thus instituting a calming effect. Some investors might be even more comfortable in making the initial investment.
As for Marty being added to the Board of Directors, I also happen to support that move. I do not support for the same reasons others do, however. I am not concerned the shareholders need a direct representative on board. The company in total is the representative of the shareholders. If the shareholders do not approve of the decisions made concerning the operations of the company, they have the right to immediately divest themselves of the investment.
I happen to feel Marty is qualified to sit on the board and that this board is light in members. He has already been partially/totally instrumental in some of the happenings within this company. If, as it seems, TSIG.com becomes the success the progression indicates, there will be room for more than 5, including Marty, to represent this Board. Who knows, there might be other members before we know it.
Dispersing the decision process of the Board across varing viewpoints will be important as the company grows and prospers. I fully imagine the COB/CEO will still carry a majority of weight in the decisions concerning the operation and direction of the company, but differing views need to be also presented and discussed. Occasionally there may be the need to reign in or alter some ideas and a Board with differing concepts can be healthy. After all the majority will still rule even if with compromise.
My view has always been the forward direction of the company and will continue to be directed that way. Most know the direction I look in if they have read me at all and paid any attention. The company has made great strides in a very short time. Greater strides are seen in the near future and continuing acceleration beyond. There are now 3 distinct roads being paved and synergistically entertwined. Some of the old ways will have to be ended or altered as the company continues to advance. That is the way of growth.
As always, my opinion
Bob |
