No he shouldn't have. But he most likely over reacted to positive discussions. Hind sight is perfect vision. But I do agree, an acute and experienced CEO doesn't allow these events to happen. I attribute this to his lack of experience in these kind of dealings.
Benvengo may have alot of experience in the recycling sector but as a company developes and challenges are presented its then when one can better evaluate ones performance. I personally think he is extremely challenged by the years events and I think he may have to really prove himself. My complaint with him is I don't think he had a long term business plan. To include cash needs that should have been secured a long time ago. I think he has a board (apart from the IG) that is made up of PT cronnies and not a board as they should have. A true board of directors brings a menu of services and experiences that are required from their fields of expertise that can be used to guide, direct and help the company to acheive its neeeds. It maybe someone experienced in the financial /banking sector, market experiences, high level CEO experiences, etc. Instead I think we are dealing with a board of yes men who may be out of their element. These things are also not uncommon. I personally feel they will get this corrected. I think this is what the IG may be dealing with to. They stepped in because they saw corrections needed to be made and you can bet they aren't sitting still. Its all a moot point until money arrives. Nothing moves forward and nothing happens at all until money is "in hands". I feel its then all necessry concerns or actions begin on many levels. JB may be a great guy but the measure of leadership as a ceo is a never ending job. How one performs under every circumstance will be measured.
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