The point is that this is NOT his own company. It's a publicly listed and shareholder owned entity. The reality is that those shares were potentially going to be worthless so there was no harm selling off and churning back into the business (IF that is what has been done) to cover the bills... in fact it was probably a good idea. After all... a desperate man has nothing to lose. Whilst some might applaud the CEO for scraping the barrel in an effort to save the farm it doesn't inspire confidence in me as an investor. How did it get to this point? Is there a realistic and achievable strategy to turn things around? Cost cutting and a new (old?) management team is not a strategy. Us investors are here for growth, not for standing still and waiting to see if it bleeds to death.
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