NETSHOE: Lloyd, very nice to see you still around. I hope that all is well with you.
The reorganization of management was a very huge step in the right direction, and way over due, imo. The fact that the powers to be made this move restored my confidence for the future here. To be honest, for so many reasons that don't need to be reiterated here, I had lost all faith in this company's ability to achieve the potential that I firmly believe It has, as long as Doug was in charge. Can't take away all the good he did in making the requisite acquisitions and building the foundation. However, no excuse whatsoever for what he did and did not do in the past year or so, imo.
It's no secret that the company is relocating to Waukon. This was confirmed by Dave Diebold last week. I think this is a great move. Gourley is there, Legred is a stones throw away, Carlson hails from out that way, and 90 minutes seperates the BSF from the TP distribution center. Hog country. This is where the headquarters should be, imo.
I had the pleasure of spending some quality one on one time with Marianno Raigo at the BSF, and again at the shareholders meeting. He is a very dedicated and well traveled young man, who speaks several languages, has much business savvy, and prime contacts in Europe. Imo, the company will also announce the appoitment of new CEO very soon now; hopefully someone from the food industry.
The exorbinant rate at which the 505s converted should have never transpired, and the dilution to an already healthy float might very well retard any appreciable upward movement in the share price, short to mid term. However,the growth of this company will no longer be retarded now that the proper changes have finally been made, imo, and INVESTORS here, should be very confident that the company's latest move is highly indicative of a commitment to do all possible to achieve success. With all of the potential that we have known about and recognized for so long, I do not see how this company can miss.
It would certainly be nice to hear from you a little more frequently, Mr. Chairman. LOL. Take good care, my best to Helena, and the very best of luck.
Robert
Robert Gelsomino
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