I agree and disagree with you on the following points:
1) "stable float" - while it would obviously be a good thing,it's not going to happen in the near future. - DISAGREE.
2) "toxic financing" - why use the word toxic? It's either smart financing or stupid financing. Example: SUNE acquiring VSLR, VSLR is burning through cash and loses money. That's "stupid financing". SUNW merges small but profitable companies together. Profitable! - DISAGREE.
3)"management credibility" - now of aaaaall the points you mention, this one is probably will take a few sentences.
I don't think that JN's integrity is shattered, however I do think that there have been several mistakes made along the way by him. Firstly, and by far the biggest red flag of them all, is Nevada. In January when we were in the middle of the NEM debacle, many solar CEOs were voicing their opinion regarding NV's PUC decision. Jim Nelson on the other hand said nothing - DEAD SILENCE. A few months back when Hawaii was under fire he said nothing and that's OK (not our problem). He doesn't have an obligation to make public his opinion but it would be nice to do so especially if our business is in CA and NV! Secondly, the conference call. The last conference call was terrible. I'm not sure why Tracey was hired, but he sounded like he didn't want to be there. Sort of makes me think like JN hired him because the company needed a CFO and not because of his qualifications/enthusiasm. Thirdly, not too crazy about how Nelson plays with numbers (in general). - AGREE
4)"large insider holding" - yes and no. Yes certain directors have "small" positions. No, they have plenty of shares locked up in options. - NEUTRAL
5) "active trading" - uhhhh OK. I would say "enthusiastic buying" - DISAGREE
6)"large lots traded" - yes! this is another thing we haven't seen in a loooong time. Over 10K lots of shares bought or sold in 1 block. - AGREE.
7)"large institutional holding" - too small of a company. - NEUTRAL
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