Saturday, November 22, 2014 4:24:19 AM
Any competent honest manager would never expose himself and its company's shareholders to such poor decision making. Can you honestly say that Peter was not aware that Port of Palm Beach (a public entity with public disclosure requirements) were still doing basic due diligence. He signed a written acknowledgment to that effect.
And Due Diligence rightly so, the Port of Palm Beach experienced just last week another day cruise marginal operator petitioning bankruptcy protection. That operator probably owes major monies to the Port Authority. It is completely appropriate for the Port Authority to require performance bonds (that PVEC was unable to post) and to perform Due Diligence on an unproven operator.
As CEO, Peter, is responsible for his and the company's actions.
When it comes to investing,
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