Hi Kel,You are entitled to your opinions but not to your own...

Hi Kel,

You are entitled to your opinions but not to your own facts. I will never challenge your opinions. I will however comment on opinions passed off as facts.

Regarding statements made by the Board about its own independence. I would expect they “believe” they are still independent. However it never rests on an individual to simply say “I’m independent”. There is a long history of Board directors offering their opinion that they are independent only later to be found to be compromised by one or more issues…even in ways that they did not see within themselves.

Instead, the tests for independence are considered through the eyes of others, often against the claims made by those who were directly involved. In addition, guides for the most common sources of a lack of independence of board directors are also clear. Keep them handy at all times.

This group exhibits multiple flashing lights. Oddly enough, that by itself is not a problem. Instead, the siren is that this team has now assembled a history of commercially dubious deals, clunky strategic choices, and flagrant disconnection between results and reward structures… all of which are prime indicators of a Board that does not have enough independence among members. I’m sure you won’t like it but facing facts is important. I assure you I am not trying to aggravate you. I am seeking to challenge some claims made that cry out to be challenged.

If you are busy then perhaps we can exchange more ideas when you have finished the house moving. Hope it goes well.

Go the slow ‘pus

AM47