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In the last month Rainforest Cafe has lost over half of its market capitalization. techstocks.com The huge gap down on January 7,1997 came after RAIN pre-announced that it would be a penny or two shy ($0.23-$0.24 instead of $0.25) of earnings estimates for the 4Q. Obviously there was more to it than being a penny or two short. The two most cited reasons for the drop by analysts and individual investors alike were a lack of confidence in management and a downward trend in same store sales (SSS) in units open over 18 months. The purpose of this thread is to take an informal poll of past and present shareholders as well as people who track this company but have not yet bought in regard to each persons opinion on what if anything should be done about management. That way we will all have an idea how we feel on this issue. (The question of Same Store Sales is a different issue for a different day.) Here's the way this simple poll goes. First choose the number of one of the following options: 1) Make no changes. The current management team is fine. 2) Promote a new COO and a new President from within the company. Continue having Lyle Berman run the company and the board. 3) Continue the search for a topnotch outsider for President but promote Carey to COO. Take as much time as needed. There's no hurry. Continue having Lyle Berman run the company and the board. 4) Continue the search for a topnotch outsider President/COO. Take as much time as needed. There is no hurry. Continue having Lyle Berman run the company and the board. 5) Hire a topnotch outsider for President but promote Carey to COO. Do it ASAP. Too much time already has been wasted. Continue having Lyle Berman run the company and the board. 6) Hire a topnotch outsider for President/COO ASAP. Too much time has already been wasted. Continue having Lyle Berman run the company and the board. 7) Hire a topnotch outsider for President but promote Carey to COO. Do it ASAP. Too much time already has been wasted . Give him a free hand in running the company. Elect a new board of directors. 8) Hire a topnotch outsider for President/COO ASAP. Too much time has already been wasted. Give him a free hand in running the company. Elect a new board of directors 9) Other. ( If you choose this please explain your answer) Next, choose the letter of the option that best describes you. A) Current shareholder B) Previous shareholder C) Track the company but have not yet bought. D) Casual interest only E) Short term trader of this company. F) Other ( Explain, please.) Then post the number and the letter. For example if you are a Current shareholder that thinks The Current management team is fine then simple post 1A. That's all that's required to participate in this poll. If in addition you would like to explain you choice by all means do so. However please do not rebut anybody elses explanations. This poll simply seeks to find out what everbody thinks about the management issue not whose right about it. However if you are interested in discussing further the management issue and what can be done about it a website for shareholders to do so (and other things) is under constuction at: chem.ucla.edu The discussion on management will begin in earnest once we receive guidance from the SEC on what it is and isn't legal for shareholders to do in regard to the election of board of a company's Board of Directors. For those who read SI but do not have posting priveleges at SI, I will (as I'm sure will any other member of the SI RAIN thread) repost your email response if you send it to me. My email address is DENNISVAIL@aol.com . Other members email address can be found by clicking on their highlighted name in any post they make. Incidently if someone can come up with a better polling method I'll be happy to discontinue this one. Regards to all, Dennis Vail So let the polling begin!!!! | ||||||||||||||
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