The Cashflow Bullet, page-75

No question RIM's action led to a positive outcome in the end. I just question if that was by intention and if it was really needed. In contrast I think it was John Jones having a great influence after Martin and Stacey stepped down. What is a more scary situation? 5% shareholder revolt or having no chairman, no secretary and no cfo?

Maybe the difference between RIM and other shareholders is that RIM would have won both ways. Either they had gained control meaning a large cr necessary and RIM getting the share majority too or they would profit like any other shareholder.

What's scary is that so many shareholders not associated with RIM voted against the board. Very bad if you do not do what's best for you.

To me it was clear - forget whatever I paid in the past, just think about who can extract most value going forward - that the "new" board is best suited. Despite that I was very skeptical about John's share selling in 2016 and Peter because he was coming from a financial background and was (too?) closely associated to John. Well, turns out we got a very capable chairman. And John's sale... turned out to be very different behind the scenes, exactly the opposite of that superficial impression in 2016 (where I did not make up my mind because other more pressing stuff). John is 100% behind Troy and tried to limit a sale necessary not because of him to the absolute minimum. Maybe Fred could have handled that situation better, I think that bad handling lost us one or two institutional investors. Nothing but great things to say about Ken of course and Gerry. You really have to have the guts to take on such a position under those circumstances. Really a great team.

Anyway, I hope RIM will stay with us long-term shareholders. Seems all pieces are falling into place for Troy to become a great company again. Not completely riskless yet but compared to 2017 we have an investment case again.