Replies to post #33451 on China MediaExpress Holdings, Inc. (fka CCME)

[MikeL300]

I don't think big insider ownership is the problem. At DGW management refused to show financial documents to the directors who wanted to investigate the financial situation. Mgmt refused. Management threatened to resign if forced to show financial documents. So, instead, the directors resigned. How ridiculous. Here, management even offered to resign and still the directors resigned! This is no doubt a case of extremely weak board of directors.

Also where I once worked, the founder of the company who owned most of the company was asked to resign as CEO. My guess was he was inexperienced. They replaced him with an older guy. This was a telecommunications company in New York.