posted on
Oct 08, 2013 12:56AM
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Interesting reports from the SHM and kudos to those that attended and reported their observations. It's a shame that more shareholders who have obviously been suffering weren't able to attend and speak their mind directly to the Qs. I'm sure Pierre was relieved at the low turnout and based on calfarmer's and Cowboy's reports (bravo!), that it wasn't as adversarial or contentious as anticipated, at least given the frustration that I've read expressed in this forum over the year.
Obviously I wasn't at the SHM, but as a former-player-now-spectator, I believe common sense dictates that the only way that anyone should take PQ's words seriously and believe that he really is trying his best to make SFMI a successful venture is if he and the rest of the BOD relinquish their salaries (both in SFMI and GHDC) until the goals that he has laid out are achieved. Without that (dis)incentive, I'm not sure his promises at this SHM are any less vacuous than the ones he made in September of 2012 or September of 2011. Somebody can certainly point out that my opinion might be unrealistic or too harsh or even irrelevant...and that's fine, but I would simply ask them to then ignore my opinion and just take the time to review what was said at the past SHM's and how many shares have been issued as executive compensation. At some point you have to earn your pay, and from what I've witnessed, that hasn't happened.
PS - Pic, my posting here is not a sign that SFMI is near a reversal. Any price movement in the stock is merely coincidental to when I was compelled to write a post. Bouts, I have no angle...just offering a passing opinion and that is all.
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