Wednesday, April 06, 2011 12:11:33 AM
sjframe,
I started CPRKSA as part of the effort to get MD ousted as CEO. The BOD wanted to remove him and wanted to show MD that they had shareholder support to remove him as CEO. They asked me if I could get any shareholder support for their actions, which I did. I also believed that MD was in over his head by then and that we needed a change at the helm. I was also told by MS that they would look for a more qualified CEO. What I didn't know is that it would be MS and then JB.
(I am now not so sure we got an upgrade in that deal!)
The good news in all of this is that the CPRKSA eventually was able to get the ESHC appointed and we (the ESHC) now have a quick way to access a majority of the shareholders.
In terms of getting rid of JB, I will just say that the ESHC is always looking for ways to maximize the chances of shareholder success in this Chap. 11. And while I cannot post what we are doing, I can say that if I ever felt that getting rid of JB, or any other BOD member or management for that matter, was in the best interest of the shareholders, then I would request that the ESHC investigate our options with our legal representation and take the appropriate steps to accomplish that task. Also know that some tasks may just not justify the amount of time and expense it would take to accomplish them. (NOTE: I am not trying to send a coded message here so please don't try and read between the lines. I am simply letting you know that we are continually investigating all options available to us to support the shareholders.)
FFF
Frank Firek
I started CPRKSA as part of the effort to get MD ousted as CEO. The BOD wanted to remove him and wanted to show MD that they had shareholder support to remove him as CEO. They asked me if I could get any shareholder support for their actions, which I did. I also believed that MD was in over his head by then and that we needed a change at the helm. I was also told by MS that they would look for a more qualified CEO. What I didn't know is that it would be MS and then JB.
(I am now not so sure we got an upgrade in that deal!) The good news in all of this is that the CPRKSA eventually was able to get the ESHC appointed and we (the ESHC) now have a quick way to access a majority of the shareholders.
In terms of getting rid of JB, I will just say that the ESHC is always looking for ways to maximize the chances of shareholder success in this Chap. 11. And while I cannot post what we are doing, I can say that if I ever felt that getting rid of JB, or any other BOD member or management for that matter, was in the best interest of the shareholders, then I would request that the ESHC investigate our options with our legal representation and take the appropriate steps to accomplish that task. Also know that some tasks may just not justify the amount of time and expense it would take to accomplish them. (NOTE: I am not trying to send a coded message here so please don't try and read between the lines. I am simply letting you know that we are continually investigating all options available to us to support the shareholders.)
FFF
Frank Firek
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