I have met and talked with John Bourque several times. Anyone who thinks Sean had anything to say about what transpired within or by BI, when JB was CEO, has never met JB. Sean was smart enough to keep his mouth shut and wait for the inevitable to occur. Sean cannot be held accountable for what JB did. I recall that he was not on the board of directors and therefore, could not be held responsible from a legal standpoint either.
JB's shares are under control of a trustee in California. The board of directors appoints the CEO and he serves at their pleasure. Shares vote for the board of directors. Granted, JB did not always do things the way they were supposed to be done. If the trustee wants to remove Sean or counter what Sean does, the trustee would have to convince the board of directors to take action or he could call for an election whereby he votes JB's majority interest and replaces the BOD.
My guess is if JB tried a stunt like that, Sean would leave. BI would drift at sea without a rudder until the first big wave caught it broadside, BI would be history, and BI stock would be worth about 0.0001 per share. No rational trustee would make such a move given the liabilities to follow. Further, if JB tried something stupid like that, it is my opinion that the Chill would not be removed anytime soon, nobody would provide funding, and therefore with no funds to execute orders BI would fail. JB is not that stupid.
Sean is trusted because of his actions. He did what he could to improve things (looking out for shareholder interests) where permitted by JB prior to JB's departure. Now he has the helm and only now is he responsible for the ship. Whatever happened on the previous watch Sean will deal with in due time.
It is time to let history be history yet serve as a learning experience for new management of how not to conduct business.
Although JB holds the majority of shares, minority stockholders have several entities and regulations that provide some degree of protection. There is always someone looking over BI's shoulder, i.e., the Chill.
Look at it this way. BI has a chance of prospering with Sean. Yes, and with Sean, BI may not make it. As investors we did whatever due diligence we felt appropriate and decided to put our money behind BI. BI has developed excellent products. We have an expectation of prospering. Without Sean, the chance of prospering is close, if not equal, to zero. I trust Sean because that's where my money is.
Sean is an investor just like I am. BI growing and prospering is what all investors want by definition. Traders don't care. If you don't trust Sean and don't believe he can lead BI to the promised land flowing with green koolaid, then I would really like to hear your alternatives.
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