Morry to a large degree PB has brought this upon himself. How many years did we operate without a chairman and effective board oversight? What was the boards involvement with the Middle Arm debacle? Or maybe lack of involvement would be a better way to put it. How much contact was made in government and the business community in the NT? The board has failed in so many ways in my eyes that there is no other option, there has to be a reset. As for PB, would I like to see him leave the company completely, no, absolutely not. But if he isn’t willing to sit down and negotiate a resolution then what choice does the CMT have but to seek his removal too? There is still plenty of time for this to play out, the big question in my mind is PB going to go down with JE or is he smart enough to save his own skin and be able to walk away eventually with his reputation intact? So far at least, and similar to the last 249D, the TNG management and board are fighting together to hold onto power, which frankly is to be expected. I just think they have misread the room and the appetite for change. I’ll give PB one thing and that is from outward appearances he seems quite loyal to those he works with. I just wish he treated his loyal long term shareholders with more respect.
TNG Price at posting:
9.4¢ Sentiment: Hold Disclosure: Held
