My letter to Investor Relations:
Carey Phelps,
Please pass this on the Mr. Hussey.
Mr Hussey,
Why did you remove your picture from the front page of your website?
Why did you tell your employees and the public that you have enough cash to "weather the storm" and that none of us should be concerned with the stock price and that it is not reflective of the condition of the company?
Is your picture gone out of embarrassment...or fear?
Also, were you writing that justification for bankruptcy filed in your last 10Q while you were publicly stating that the stock price was not reflective of the company's condition and its future?
Do you have a guess as to why America is sick and tired of CEO's like you and why people have no more faith in buying stock in corporations? Let me give you hint;
You ARE the reasons why America is on the decline. You ARE part of today's financial mess, because you are self-serving.
Feel free to justify your actions in your own mind all you want through the pretense of "saving jobs". The truth is you can save those jobs AND not screw your shareholders. But you'd rather remove your picture from your website and hide because it's easier and better for a few, including yourself. And of course you have the perfect alibi: America's current recession. What else is a poor CEO suppose to do in times like this? You are a true hero for getting your company through these tough times.
Sleep well,
Xxxxxxxxx