Ann: Empire Appoints New CEO, page-54

Cheers Doc,

I know you are in touch with some serious people who are looking on, and others who are likely to be part of the new phase for Empire.
I also know there are sound reasons why it is entirely inappropriate to be divulging any specific information until the right people and strategic events are in place.

Though the standard response for a regime under the pressure circumstances the B&M have been facing, is to deny and discredit the opposing view, it seems really counter intuitive that your offer to work with the head shed was defiantly ignored. Typically they have been so self assured, they know what is required, and you are seen as a trouble maker? That superiority logic seems to fit with their decision making prowess demonstrated on so many other occasions since they took over.

They have had ample time and opportunities to deliver on their promises, or at least some of them, and they have chosen to close ranks and now they have painted themselves into a corner. The fact that Ken was smart enough to be the first to go is to his credit, and this surely indicates to me that the RGN1 outcome is not going to be good news for shareholders.

Where can they go from here? The long road to the end of this really disappointing saga is nearing the final stages.

I endorse your efforts to bring about improvements in performance of the head shed and the share price. Silent acceptance of the lack of performance of the head shed is not something I am able to bring myself to do. Whatever arrangements are able to be put in place in the future to establish a strategic and innovative team to take this company forward for shareholders, will be a worthwhile improvement on what we currently have.

Four years of failure and self preservation is starting to deliver the well deserved dividends for the parties involved. I am really quite upbeat about the future and the time for last drinks in the head shed is nigh.

Keep up the good work Doc.