Re: TA vs Fung- furthermore
in response to
by
posted on
May 18, 2010 11:48AM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
I'm not emotional about RF. I hate Chavez but I don't hate Fung.
I just believe he's done a lousy job as the COB of KRY and I think the share price (and general opinion of KRY in the global investment community) supports my belief.
You're right. I don't know who could have done a better job and therefore I don't know who could have/should replace Fung.
(Personally, if I had the choice, I would have rather seen Todd Bruce in that COB slot has I think he had more balls than Fung and was more responsive to the issues of the retail shareholder. But I think Fung tied Bruce's hands and never let him take a hard line in Ven)
But not knowing who could have done a better job than Fung is not the same as saying he's done a good job.
And the fact that Fung has no real stake in the company with his own money shows me he has no real faith in its future.
Bob Fung may be a nice guy but I don't have a lot of respect for his professional character.
He once told me that he took "full responsibility" for the year that KRY's trading got halted for weeks because of irregularities, and was delisted, and was forced to amend the financial reports that previously stated that KRY showed a profit.
So I asked him: What does that actually mean when you say you personally take full responsibility for these mistakes?
Does that mean you plan to step down as COB? Does that mean you plan to give back your salary or bonus for the past year?
He just stood there and said nothing.
So now he says KRY's best hope is to stave off bankruptcy long enough to kiss the ass of the Chinese, Russians or Iranians in the hopes one of those countries bales us all out.
Well I say, "Puker up Bob. Give it your best shot".
Cividale