Replies to post #65641 on Rim Semiconductor Company (fka RSMI)

[ShysterChaser]

The answer, dear Goldy, is simple and straight-forward.

More than an ordinary investor, a potential nominee to a board of numbskulls to a public corporation is required to do due diligence because once he accepts the position, he has public fiduciary responsibilities and liabilities. If he is ignorant and lazy, he has no excuse if something bad happens to the corporation, its assets, or its shareholders.

Under Sarbanes-Oxley, stupidity is no longer an acceptable defense. A deadhead among deadheads can still get sued, indicted, and be subject to many other sanctions. Business law applied. All IMHO.

[GaryInPB]

Goldrusher,

I'll refer to what Koog stated as I'm only guessing:


"Will is a very upright and honest guy. He also is at a point in life, after many years at Intel in very senior positions, where he would not be enticed in nefarious ways to prop up a sham. He's also the kind of guy who wouldn't be enticed, even if he was a junior technician in the lab."

If this is true;

Regardless of the warm comments directed his way by Brad Ketch....


Don't you think Will Swope, "someone of your experience and visionary outlook" would do some serious D.D. before ever thinking of joining a Board of Directors?

I would think, he would have to be aware of the entire picture....

Cheers!

Gary

[GrooveMaster]

Goldy I do not like your analogy.

It is like saying Lee Iaccoco would go sit on the board of Yugo..........nah

Swope wouldn't hang his hat here unless he was one upping himself....

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