He might have other business interests that remain undisclosed. At the business where I work, our staff attorney maintains his bar registrations just like a CPA would maintain his certifications for example, and is free to maintain 'extracurricular' business interests that are noncompetitive. Thistle graduated in 1994 and only practiced with two undisclosed firms prior to joining KATX in 1996. He is also the chairman of the board for KATG. It's possible he is an activist investor, it's possible he is a gentleman of leisure, but in any case, not something I worry about. KATX has a darn good track record so far, and getting lawyered up doesn't do anything to keep honest folks honest. My two cents.