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clock Created with Sketch. 03/06/20
15:46
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Originally posted by Homerun78:
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Blaming management will obviously not undo the predicament LNGL is currently in. But what was important is to understand all the missteps and management lack of competency that contributed to the currrent state of LNGL and Magnolia. Its clear all these could have been avoided if the management was also being governed by a board that was performing its supervisory role rather than just being a rubber stamp for the management. In short fundementally LNGL projects were intact and had a future for it and in conclusion it wasnt the market or project fundementals that brought LNGL to its knees. The focus going forward should be about salvaging LNGL and Bear Hear and develop the platform to grow in a new direction which ultimately achieve what it had always intended to achieve. The LNG universe is still new and theres opportunities to continue participating in the LNG value chain anywhere from liquefaction to regasification to power generation. Lets watch if a proposal to turnaround LNGL does get to the administrator and if this happens shareholders should encourage tor it to be accepted as oppose to accepting a liquidation.
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You haven't identified any incompetency you have just assumed there must have been incompetency. The company failed because of:
