John is 70. He's tired. He was nodding in the front row when Gerald was giving his ASM presentation back in Aug., at the NAS building, in NY. He spoke to me about retiring.
This is his legacy - to pass something on to his son, so his son would have a future - and he would have a monthly AMBS pay check to supplement his retirement years. It all made sense to me after that encounter.
Gerald isn't CEO material - they'd eat him alive on Wall St. John understands this, but he won't change the way things are because AMBS is Gerald's only protection of having a job, and Gerald is his only son.
So for better or worse, that is the way it is - and will remain - until they find a wagon to hitch their load to, sell what they have at auction prices, or file for Chapter 7 protection and reord. Or they can continue doing RS's and serial diluting for eternity.
You choose what to believe. I'm just presenting the cold reality of AMBS.
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