the shining, page-27

Dear everybody,

The LGL Share Price has brought it to my attention that all of you shareholders have been picking on it. Now, as your Emperor, I'm asking you to lay-off.

After all, I'm the one setting outrageous production targets, which we never meet. I'm the one that keeps on using ever spare cent of money we earn to expand the LGL empire, rather than paying you a dividend. I'm the one who, when I've spent every cent but still can't satisfy my Caesar-esque fever to grow, decides to dilute, dilute, dilute, via all-scrip offers for companies operating in corrupt and violent African dictatorships.

So, you leave that poor little LGL Share Price alone! I'm the one that wants to keep it as small as possible. After all, if it gets too big, it might take up too much room in the back seat of the limo, on the way to the office. Worse, if the share price actually showed any kind of consistent growth, the Board might start to think they can reward me with performance options, rather than cash! Perish the thought!

When I took on this position, I never promised you share price appreciation. I never promised dividends. I promised a new vision: People, Results, Growth. Which, of course, means: more and more People (=Power, for me), Results being Salary Increases (for me) and Growth of the LGL Empire by dilution (for you).

Just look at that vision statement, will you? Do you see any mention of shareholders? Do you see how a shareholder might fit into it? Do you think that was an oversight? Of course not!

So, just so you are all straight: while the Board and I are around, the moment it even looks like we might be in a position to pay you a dividend or grow the share price, we'll come up with a new expansion or dilutory acquisition to take it back down again.

Anyway, just so you all know that the Board and I will continue to work in our best interests.

Thank you,

Your Dear Leader