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Monday, March 26, 2012 6:20:39 AM
MG said it that there was a new management team. According to his PR that was decided, and it had to be announced.
What was not decided, according to the PR, was the course of action that the new management team was going to take. The course of action is not the issue. The issue is that the new management team has not been announced, and this team has not introduced itself to the stockholders.
And just because it is pinky land doesn't mean that they should get a pass. The fact that the government doesn't enforce the law doesn't give any management team in pinky land a by on their fiduciary responsibilities. MG has violated those regardless of whether he ever suffers the consequences. Period.
I personally believe that there was somebody ready to take over, but that he jumped the gun in order not to have to hear from us, and then the party backdown just before signing the deal. If that was the case, he should have announced it. can't get no easier than that. Nobody would have ever faulted him for it. Nobody believed that he could save the company due to the circumstances; not due to his abilities. His bad for not being forthcoming.
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