Since I have apparently been assigned (or assumed on my own) the role of contrarian on this board, I will take this rainy, lazy Saturday opportunity to express some “views.”
1. As stated previously, I am upset with the A123 the Board Of Directors. They have not communicated to shareholders at all. They have misled us with regard to their intentions on several instances—the original filing for chapter 11 protection, the drop of the appeal for delisting on NASDAQ. They have never formally issued any communication to shareholders. They have gone into their legal shell.
2. There is a lot of uncertainty regarding the sale of assets and what that entails.
a. Will the company be left with a product, contracts, and a way of meeting those contracts/
b. If the sale of assets exceeds liabilities, what is the plan…maintaining AONE, liquidation through payoff of shareholders, taking the money and running?
c. If the sale of assets exceeds liabilities and the company shares that excess how long does that sharing take and how is it handled?
3. I do not want these assets to go to the Chinese. I want them to stay under U.S. company control. I want JCI to purchase the auto portion of the assets and continue operations in the U.S. I want the eventual profits to be reinvested in this country and not China.
4. I would like to see JCI purchase the auto assets and A123 to maintain the grid storage assets and the government contracts. I would like the JCI purchase to be sufficient to cover the A123 liabilities and to leave A123 as a debt-free functioning entity with shareholder value and the ability to grow.
5. I would like to see an outcome whereby shareholders maintain value, the company remains viable, the assets remain the property of U.S. companies, the employees keep their jobs, the battery industry continues to grow, the hybrid car technology succeeds in the future, and all this happens under a free-market society, without the influence of Congress.
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