Happy: about “loopholes.” I get your point and to you and a whole lot of shareholders including ME yes it seems like management is using the (presumed) embargo as a convenient -maybe even flexible - excuse to avoid disclosure. And your further point about how management seems willing to interpret and apply those rules to follow a course of action or silence that we might prefer that they not follow. That’s not grounds for criticism that’s grounds for commendation for skillful course charting in changing conditions.
When I go to my tax lawyer I don’t want
him to follow the most superficial interpretation of the code. I want him to squeeze out every favorable, reasonable provision or interpretation and maybe some that are even marginal as long as I know the balance and make the decision. If otherwise he’s not doing his job. I expect absolutely no less from management assuming (as it appears) that management has determined in their exercise of fiduciary judgment that this is the best course of action for the company.
So, respectfully, I draw the exact opposite conclusion than you do about the careful application of “rules.” Best wishes.
PS my personal tax return w state returns was 187 pages this year. For perspective
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