I have no argument there. JC isn't now just fighting for his job, but also the value of the 10.5m shares he personally holds. He has slipped up massively in the lack of comms and perception of both shareholders and noteholders in his handling of the company and this has only become worse since August last year.
I genuinely believe he is trying his best, but with no independent board to sound ideas off it seems greed has gotten the better of him by rebuffing the Lone Star and other offers earlier. The biggest and most painful lesson of this debacle will be learned by him... maybe not by % of worth in bought shares (we don't all earn $1m nor received our shares through directors grants) but certainly by the quantity of loss.
In the latest communications have we all noticed that the statement that the company will voluntarily provide access to an Independent Accountant if resolution passes has been dropped, or have I missed something? If the company has actually dropped this proposal why would this be - given the vote for this in resolution 2 still open? is the board trying to hide something?
Finally, has any noteholder got any interest in pushing for more representation on the board? eg 2 noteholder reps and 1 equity holder rep? (to be voted in, so as not to be JC's buddies). If so do we know how we can achieve this?
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