"Incompetence runs in the family..."
Not sure. Time will tell, KK Whelan will either completely reverse the trend of the past 12 years or more, sadly left to her by the former CEO or make it indelible. A simple decision and one I would have already have made many weeks ago. Positive management tweaks cost nothing. To increase the Board of Directors to 5 or 7 and let her mother grieve at home, in relative peace, costs nothing. An act of kindness. No need to stack the deck on the BoD to prevent anything, form allegiances to prevent such things and protect the mothership - happens every day. Stupid not to because it is such a strong signal and generates confidence in management!
And fixing the corrupt share structure is just as easy and more fruitful! The Whelan family must relinquish at least 28 Billion shares, out of their 35 Billion shares, plus/minus (when all loans are converted to shares), of what the SEC labeled "ill-gotten" gains. That would leave them with >8 Billion shares, plus/minus, and position BIEL to run longer and stronger, with more sp sustainability, when a deal is announced. So simple, costs absolutely nothing and creates much more stability and wealth for the Whelan family, all shareholders and the company going forward. Suspiciously stupid not to do so - should have happened many weeks ago. Stupid way to attract attention. . . .
My sense is still that there is a deal already in place, in principal, if not 2 or 3. The total silence is uncharacteristically professional and deafening. I have never wanted blabbermouths at the helm of any company I've been involved with because that makes them allies of the competition. With a blackout on chatter, I welcome it. If nothing is happening, that will be revealed in time, same as the nothings on Boots, B. Braun, CVS, Dr. Scholl's, KT Tape, the CE Mark, MundiPharma Australia, the truth always comes out because the truth translates into deals and sales. Imagine how simple that is. Dismal sales means all the chatter was what? Yup.
My wish is for nothing more than wisdom, integrity, governance, action, deals and sales. Anything else is toilet management and I'm tired of that. One would think KK Whelan, the current CEO got very tired of years of no deals, no sales, no profits and having been thrown under the bus with the SEC debacle. Time to show what she's made of and how she has overcome what happened. She is a human being and has deserved a solid shot at doing the right thing - her shot to prove herself is now.
