Re: I nominate
in response to
by
posted on
Dec 05, 2011 06:12PM
Eagle: "What would a new BOD composition do that the current BOD is not doing to make things better? Any ideas?"
Is it really that unclear?
1. Investigate each and every action and decision by the prior BODs and hold the perpetrators of any breaches of law or ethics or by-laws or insider trading or fiduciary failings to personal account.
2. Investigate the Lincoln/Swartz deal for any trace of insider trading, illegal influence etc.
3. Investigate prior BOD members for collusion, conspiracy, conflict of interest (especially withe respect to any relationships with Swartz and the Leckrones).
4. Investigate prior BOD members for any familial or business connections to principals of the various companies in which PTSC invested so poorly.
5. Investigate prior BOD members regarding travel and expense and similar reimbursements or payments.
6. Review minutes of prior Board meetings for accuracy, completeness and compliance.
7. Review and adjust senior management contracts and where appropriate, if cause for dismissal is justified, terminate for cause with no severance or similar benefits.
8. Find a way to dissolve PDS - who needs the overhead of a business entity to decide where the money goes? Whomever receives the money (TPL or an affiliate) can have its CFO wire the money at much lesser cost.
9. Review all dealings with TPL etc for anything than can still be taken to court, and do it. If PTSC breaks, TPL had better go down with it.
10. Investigate why TPL has alleged offices offshore (especially a mansion in England) and work with appropriate authorities to investigate whether PTSC and/or its BOD might be "accidentally" involved in money-laundering.
That's just for starters.
I'd rather see some of these people bankrupted or in jail, if found guilty of malfeasance, even if it means PTSC folding and my losing another 5c a share.