buying opportunity, page-12

lookandsee... you made the following comments:

"to hear the same negative dribble about management is getting boring."

"some want to re live the past and complain."


I think that those comments are, in part, directed at me, which is fine, however my friend, I would objectively suggest that my recent rants have been constructive criticism in an attempt to avoid mistakes of the past being repeated. There is a subtle difference!

I had dire concerns about Karoon mgmt pre-dating last years AGM, and I took action back then - I voted according to my concerns, and I voiced my concerns to a third party in the hope that something would filter through. However after another six months of further inaction, I am now escalating my actions as I refuse to stand by and watch this company ground into the dust by the insipid inaction of management.

I said a few weeks ago that my word for the following week was "escalation", and I did escalate my constructive criticism on this forum. I also started to escalate outside of this forum as well. The Karoon management needs to know that their actions are not good enough.

Don't get me wrong though lookandsee - I'm a reasonable sort of chap, so if there is a good reason for the inaction, I'm happy to accept it - however, to date there has not been a good reason for the inaction.

It irks me that despite what is an obvious chord of discontent, the company has still not made any genuine effort to assuage the concerns of their shareholders - they obviously think that the "head in the sand" attitude is fine, however we all know it does leave the rear-end somewhat exposed, and clearly the shorters haven't had any objection in exploiting that vulnerability.

Perhaps Karoon mgmt will soon find out that the exposed rear-end also gives disgruntled shareholders an avenue for recourse?

I think my new word for the week ahead will be "recourse"...