It's been almost 3 months since Gary has put out a new blog
It's becoming apparent he has no respect for his shareholders. I guess thats because he already has our money, along with a nice raise this year. So when you get rewarded like this for a 22% share price drop over a 52 week period, there's no incentive to concern yourself with the shareholders concerns, is there? You'd think he would have the decency to ar least respond once in awhile to the shareholders with some positive feedback and encouragement, but nope, he's too busy with other stuff I guess.
A leader he ain't! Please, feel free to prove me wrong Gary.
How does he have your money Keep? You playing poker with him?
And the blog is not a very effective way to communicate significant updates given the heavy amount of regulatory oversight that the company is under. But I do agree that once he started this he should have included this in an overal communication plan so he wouldn't further tick off investors.
Theres, ACT received shareholder money from their original IPO, but since then they've diluted the stock by giving away large amounts of stock to employees and the Board Of Directors, along with this they've given away shares to pay off their lawsuits, along with selling shares to to fund their programs. And all of this at the expense of the common shareholder, as dilution weakens the share value.
And as far as Gary goes, it is a bit distrubing to me at least, that he blamed negative shareholder sentiment for the failure of the recent RS attempt, and that he blamed the past corporate administration for the lawsuits, especially when he was the companies financial officer during this period. It appears that he likes playing the blame game, and that is lame. Instead he should show some real leadreship by accepting some of the blame himself, and by keeping his shareholders better informed. And if this means he needs to be more of cheerleader for the company, so be it.