What a stirring dyslogy.
Just a few of minor details that appear to have been overlooked in the "We need a new BOD! Right now!" scenario.
What will be accomplished by simply placing two shareholder representatives on the BoD?
As they will become privy to insider information, the very first document they will have to sign is a non-disclosure agreement. There goes the more information argument.
Once they are fully aware, as insiders, why is it assumed that there will be possible changes to make?
How many would be happy in the event that S&L were one of the two largest shareholders?
Will the "new" BoD, and or shareholder representatives be unremunerated other than by the award performance related options?
Who is to set the performance targets? (Obviously, MMP Portfolio income will be excluded as the BoD has no control over its generation).
Before any of these suggested changes can happen there is the matter of "due process", which I humbly suggest will take much longer than any 120 days.
Why doesn't it appear "simple as..." when one takes a realistic look at the situation?
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Be well
