Fair defense of Kent, but..
At some point, he has to create shareholder value through stock price appreciation. Unfortunately, he can't control the VCD conversions and they've taken their toll, but he should have some tools at his disposal, like a buyback instead of additional M&A, to start rewarding shareholders (and enriching himself and their team in the process).
Bridging the gap between the current value and the company's intrinsic value will require catalysts to be executed. What do you have in store Kent? I hope it's more than just the Class C shares.