I don't think we can draw too much out of Corrigan's departure...His 56 million-odd shares @ 9 cents is roughly $5 million bucks....He'd have more than that lying around in the ashtray of his Bentley...HAW's served him well with near negligible input from his behalf, he's just picked up that beautiful $2.2 mil divvy, & for whatever reason(s) which we mere punters will never be privy to, he's moving on...
If I were him at his stage of his life, given his phenomenal wealth & long track record of admirable belligerence (remember how he stuck it to those Union Prxxks back in the Patrick days), the last thing I'd be wanting to do is stick it out for the long term with a majority bunch of foreign ownership influences.
So the "Talisman" has departed, but HAW's fundamentals haven't changed...Sad thing is, as so many other Posters' have mentioned, we all hold shares in a company where Management displays almost contemptuous indifference to the concept of "existence" of minority Share-Holders.
So I suppose we either stay in as Shareholders & "suck it up" in relation to the gross indifference displayed to us by HAW Management, or elect to depart in the quest for a more "transparent" Company to invest in...But either way, I don't think Mr Patrick-Corp's decision to move on ultimately factors into this.
Cheers Hedg,
Clozapine
HAW Price at posting:
9.0¢ Sentiment: Hold Disclosure: Held
