Wouldn't it be great if...
Memo to All Shareholders
From: MD
Dear Friends,
I have come to the realization that being a bumbler and just putting my head down and charging full speed ahead isn't always the best for business.
Here are some things that I've decided to do. Each of these have been talked over with the BOD, and are immediately implemented.
1. We're going to pay attention to the bottom line.
2. No more wishful thinking, we're now into planning and executing.
3. We've got enough IOUs, so starting immediately we're going to cash flow this business and build up our retained earnings, month after month.
4. If that means that all of the "experts" who were involved in constructing the mill aren't needed to operate it, then that's what it means.
5. We are going to plan labor around activities that lead to sales and profitability.
6. If that means the end of nepotism and cronyism, so be it.
7. We're going to publish our financial statements starting immediately and we'll publish updates on a regular basis.
8. If that means that people will see the magintude of our IOU's, so be it. It's time people not be afraid of the dragon under the bed. It's time to take a look. It's time that the public saw how the company is run. If they want to own it, great! If not, then sell to someone who does.
9. I'm going to hire competent managers and put an end to micromanaging everything. These managers will be held accountable by a Chief Opeations Officer and will be replaced if they don't perform.
10. I realize that I have much to be desired when it comes to managing this business. No one is questioning my ability to put claims together. I have done a spectacular job doing that. However, no one questions my managerial weaknesses in executing purchases and operating this business through a successful start up. I'm putting an end to excuses, and I'm taking myself out of a management role and will become a member of the board of directors.
11. Please accept my sincere apologies for the way I handled the following. I take full responsibility there:
a. The Toshiba deal.
b. The Yerington purchase that fell through big time.
c. The ridiculous promises for dividends, a better exchange placement, and transparency.
d. The way we burned through all of that cash with no real plan for success.
e. The way we diluted without keeping an eye on cash flow, earnings and the balance sheet.
12. With my new commitment and turning over a new leaf, I pledge to the shareholders that it is a new day at CPRK. Please accept my sincere apologies for how things had been run.
MD
AI
