Lautrec,How many people have 2-3 times Larry's...

Lautrec,

How many people have 2-3 times Larry's holdings?

Regardless, you are missing the point.
A board is about balance and now the board is missing the one guy that has the capability to instill a "low cost" mindset through budget and cost discipline into the management. he also "feels" the pain of price impact more so than any other board member. Its not that his shareholding entitles him to anything but he had both the skills and the motivation to ensure that money wasnt being burnt unecessarily. I dont believe that's the case with the other directors. Not because they dont have the inclination, they just dont have the same level of experience to read the day to day financials and ensure that strategic ends are being met through tactical spend.

There is no dead-wood duplicate skills. In fact, Larry would probably have saved the company >$100k a year on unesessary accounting fees alone. Him and Steve Carter were the most commercial people on that board. The others deserve their place for all the reasons you have stated but now there is no longer an agressive cost-cutter to temper the spending inclinations of the management. Again, its about balance.

I dont follow one particular person on the board. In fact, I started following this company for its technology and I still do for its technology. I am now not so sure that at $100ptCAPEX that ESI has will win the race against the increasingly cheaper competitor technologies.

Can anyone explain to me whether the TINCOM deal is binding or not? Because the announcement in June stated that it was, yet feedback from questions asked at the AGM didnt seem that clear.