Close to being correct is a major step - it wasn't omitted, allow me to remind, and why I've suggested, perhaps ten or twenty times, that the Whelans would obviously create the Shareholder Alliance first, then have BIEL/IBEX simply change the convertible notes to conventional debt.
Sorry, I always presumed the tactics of protection and retaining voting control, fair for all Shareholders, a given, were glaringly obvious. Easy to form the Alliance, would only take a couple of days, with people being busy.
Here's a start - just ask all shareholders a simple question: Who would proxy their stock to Messrs. Staelin and Nalepka and Ms. KK Whelan so that their stock is voted to mirror decisions of the Directors on the Board, except for decisions involving corporate debt, divestitures or M&A implementations?
I suspect very speedy Shareholder responses would be forthcoming, necessary to form the obviously needed Alliance to protect major and minority stockholders from mismanagement, corruption, revolts and piracy.
Maybe if we had been more fortunate in having such an Alliance 5 years ago, we would be on the shelves of CVS, Walgreens and and and......or 10 years ago... interesting thoughts. Wishful, or wistful, thinking. Things would surely be different.... Oh well, this is now...
Just fix the self-destructive share structure. Change it from the past self-serving to self-helpful for all shareholders. Anyone tired of being in the $ .000whatever toilet? After how many years?
