In my opinion, PTSC has lost significant credibility and the market is punishing shareholders for it. There needs to be significant changes to restore that credibility. The following is the wisdom of some unknown author but it is worth mentioning. These are policies and procedures that can be implemented.
1. Process Improvements- the focus should be on the overall company results. We need to cut out anything and anyone that is not working to bring shareholders value
2. Performance Measurement- provide benchmarks not only for compensation but for position rention at the Board and Executive levels
3. Fraud Prevention and Detection Tools to include (but no limited to); whistleblower hot lines, surprise audits, segregation of duties.
There should be zero tolerance for inaccurate expense reporting, no more golden parachutes for outgoing executives who did nothing for shareholders while on the payroll.
Our BoD is supposed to watch our backs and when they don't it's a betrayal. Unfortunately shareholders seem to have no rights, no recourse, no means to rid themselves of those who have failed them time and time again. It's like we are a ready willing and able firing squad; the problem is we can only stand in a circle.