Elan you have been around ths stock long enough to figure it out.
The board has been a rubber stamp for everything that has gone on. At the minimum they have been guilt of doing nothing to curb what has been going on.
Are you aware the compensation for this lot of board members topped over 400K last year alone. They also receive stock.
Gilder is the only board member who has ever purchased shares on the open market a few years ago, and thats going back to 1999 when I came around.
They have done nothing to stop the nepotism. For a highly qualified board, non of them could say there might of been a conflict when WXP was being run out of an apartment space and there was a flap with that. None of them has ever stepped in and stopped cash bleeding offices in other parts of the country and other countries when this company could clearly not afford it. And it's quite clear they have no problem using the shareholders as an ATM for the company pet projects. Has Scrambls added to your shareholder value?
There governance of the company will have allowed 2 RS almost 7 years to the date.
The answer to this question is pretty damn clear.
Yes you have a retirement coming, but there was change promised last year thru a investor mouthpiece when the longs became restless. No action for a year until after the RS intention was made public. This retirement feels more like something sacrificial to me in an effort to appease the shareholder base as they watch there support dwindle.
Those RS shares that will be worth something in the neighborhood of 1.60 or so will have been split 7 times since they traded back in the hey day of Vegas and fancy cars.
Has this board been a custodian of the interest of the shareholder base that has supported, and lets be real here, financed this company?
Every long knows the answer to this, but only the longs that are dealing in reality will vote this way.
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