Would you put $1.5M into this company with no control over management?
On the face of it, he can't force a change. But...anyone in that situation would want some kind of control over their money, wouldn't you say? I don't think that the ineffectiveness of this "clueless management" would be lost on someone who knows what they're doing, as this guy obviously does.
Maybe the news you speak of will entail one or more hearty farewells to certain someones, together with generous thanks for their tireless contributions over these many years?
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