I wrote this message several months ago when the stock price of NPK was higher. At this point (10/1/00), every long-term holder of this stock is in losing territory. Why compliment management for its failure?
"By the way, I retrieved a few numbers through my Bloomberg system at work. Those who hold NPK today and have held it for almost any period up to 5 years have made little or nothing! I think investors who bought the stock 3 years ago and still hold it today are in positive territory. Everyone else would have done better in CDs. Stockholder value can be locked up by intransigent managements. There is no law forcing the ultimate realization of whatever value might exist. But if NPK's management has the good sense to put the interests of the majority of stockholders ahead of a priviledged minority, then we might see a recovery. Otherwise, well, you know what has to happen."