the management knows that they ripped off the IPO investor
Friend, you don’t know how right you are! While I did not get in at the IPO, I have the distinct honor of having paid $8 (dollars) for a few shares I bought late in 2002. So no one here on this forum has more to beech about than me. (Except that my average share price is under 10 cents a share.)
Still, the management team that burned through the IPO money back in the day is not the management team in place today... unless you consider Otis as part of management- which I do not.