ithasnospaces,
It's time to put this debate to rest.
I haven't bolted and left anybody, I'm still here, and I'm still holding. I haven't walked away. I'm still posting.
I didn't know that Doug's wife was on the board. I never made it a point to investigate who was on the board. I found out the same time you guys did, when the 10K was released. I agree with you that the board needs independent representation, and that Doug's wife poses a potential conflict of interest. However, I'm not going to call up Doug and tell him to kick his wife off the board. That's not my responsibility as a shareholder and I'm obviously not in a position of authority to do anything about it. That's a board decision, not mine. If and when the director appointments come up for vote again, I will exercise my right and vote for whom I chose. That is my responsibility.
It is your opinion that Doug Butcher is incompetent, not mine. The stock has been sliding, but the company (and Doug) are still focused on business at hand. Their efforts to date have not been reflected in the stock price. I haven't been as participative in the past 6 months in ETPI because I didn't expect the company to really be doing much at all during the 1st and 2nd qtrs. That's why they changed their fiscal periods around, so that they would finish with a strong 3rd and 4th quarter (Spring and Summer quarters). Before we judge Doug and ETPI, I think (my opinion) that we should wait and see the results of the "focus and finish" efforts in the 3rd and 4th qtrs.
If you think Doug Butcher needs help, then call him up and help him. He's open to suggestions and comments. I wouldn't question his ethics, I don't think that's a fair comment unless you know specifics. Having your wife on the board is not illegal or unethical, although it's not a preferred business practice either.
You made a comment about me posting things poorly researched and possibly not true. I'd like to know specifics. I've debunked several rumors posted that were obviously not true (how many times have we heard about the Disney rumor?). We've had plenty of speculation on the board and we've passed on information originating from I.R. that did not come to fruition, but I challenge you to find one post that I've made that was deliberately misleading.
ONE: IS THE STOCK PRICE DOWN? Obviously.
TWO: DOES MANAGEMENT USUALLY FACE RESPONSIBILITY FOR STOCK PERFORMANCE? Ultimately, yes.
THREE: IS THIS BOARD INDEPENDENT? Obviously not.
FOUR: DID YOU RAISE THE VISIBILITY OF THIS STOCK TO THE MARKET? Yes, as did almost every poster on this thread. As does every active poster on SI, trying to promote stocks they own to other people. That's the whole idea, buy a stock and hope others buy it too.
We obviously both want this stock to go up. Hopefully we'll start seeing improvement this quarter. We'll hopefully get a strong opening to the waterpark with lots of fanfare, we'll hopefully get more updates on the other divisions, and we'll hopefully see positive net income on the 3rd qtr 10Q. Anything less would be a disappointment.
And I doubt Leonida Butcher being on the board will have a significant impact one way or another on the 3rd quarter results.
Gator
Disclaimer: I have received 10,000 shares of restricted stock from ETPI for various consulting services. |
