You neglected to mention breach of fiduciary responsibility as the head of a public company. Paying himself an outrageous compensation package with no approval from an independent BoD and failure to hold shareholder meetings is a no-no. The aforementioned relationship with Gay's consulting group would also raise eyebrows.
Yes, all these things are splitting hairs, but at some point we have to at least try. I'm giving Gay a chance, but he better act relatively soon. He's had plenty of time to prepare for this.
ShortsFail - Thanks for taking the time to elucidate your views. All makes perfect sense. At the end of the day, you assessment may well be 1005 correct - we all got snookered by a tremendous amount of incompetency. That 2015 PR about 25 locations really sticks in my craw. Had that actually happened we all would be sitting on a pile of money I suppose. OH well, time to play some golf and get off the computer.