Re:wrench/ ...Lamb...As shareholders I propose the following action...
in response to
by
posted on
Oct 13, 2009 01:04AM
Lamb your response to wrench is dead on except I think that there is a glitch in any plan to merge or be bought out and that glitch is the agreement that our Board made with TPL when they formed the partnership that gave so much control to the Leckrones. As I recall stated no buyout by a third party is allowed without the agreement of the other partner to the MMP partnership. In other words TPL once again has right of refusal on any deal that our Board might want to make...... however not to get anybody's dander up by accusing this board of being capable of poor choices (heavens forbid), since Dan L (papa) basically said at the last shareholder mtg that he controlled the board or at least the compensation the board got (the golden rule is he who has the gold rules), who knows what type of deal Papa and our glorious board would concoct.
I have written two previous post in the past couple of days which some have taken seriously and others have ignored. I do not want anybody to think that my idea of what can be done to take action regarding the future of ptsc is the only idea out there but so many of the post on Agora have had no solutions just rehash of old news, comments or complaints etc.... I am proposing a solution (actually re-proposing a solution by one of our Senior board members). Please read on ......
Lamb I am referring to all to the comments made by you and Brian and Ron and Wolf and even BaNoss as well as some others and how cogent all of your comments have been now and in the past. I have and still am suggesting an Independent slate for the board of Directors. I know that Ron would not be happy to work with the current board that is why I am looking for a clean slate. This clean slate as I see it would contain the names of shareholders as noted further along in this post.
Ron, has laid out in the past the path we need to take to get this slate on the proxy. We do not have much time. Someone needs to lead the effort to nominate our slate and I would be happy to be the one except since October 2006 I have been busy with some personal issues.
However anybody who questions why I would nominate ...Ron, Brian, Lambertslunatics, BaNosser, Wolfpacvolt, (needing seven I would also throw in), kiddtrader and Edigokie then please look up their post histories. All of these individuals have been on this board for many years with most dating even further back then my participation on the board. All of us owned this stock way before joining this board. I have used their board names so you can look up their post history. These folks are competent.
I have met them, I have talked to them either in person or in private post. Though I am fighting an illness my professional background includes being a corporate controller in the past, have been on corporate boards myself, have been a School Board President (private school) and I consider myself a decent if not good judge of character. These folks have character however might I suggest that you not only read their post but get in touch with them in private post and decide for yourself. BUT do it now. Action is required.
God Bless
Marc
p.s. You will note that the slate above is made up of members of this or other financial web boards. Does this make them qualified to sit on the board of ptsc? I think so and I think most of you will also as you investigate their backgrounds. There is no doubt in my mind that they are more competent that most of the board members currently serving ptsc.