That's exactly what I'm talking about.
Shareholders are looking for strong management here, to bring this stock to the next level.
One point worth examining further is the issue of dissent in management. Plowing through all the court documents regarding WMB and ETE, there are some really deep signs of problems. Specifically, documents show that board members have actually spoken against CEO Armstrong and expressed concerns about some very strange actions he took regarding the cancellation of the merger with ETE. Board members called Armstrong's actions “unbecoming of an officer of a public corporation.”
I couldn't find filings on the actual legal cost of this fight, but no doubt it is highly expensive. And the judge has indicated multiple times that WMB is not positioned to win this thing.
I would like to see more leadership from the CEO here. Ultimately, shareholders have to hold management accountable and I don't think they are acting in the best interest of the company. Likewise with the poison pill. It goes beyond protecting the company to being overly reactionary.
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