As a small shareholder, and large customer, I am very concerned about the direction this company is taking. Over the last 18 months I have had two price increases from Ten Auto, during this same period the quality of service has fallen off sharply. I have broached this with Tom Evans the Pres., and he does not appear to even understand the issues of his customers. Mead obviously is not able to communicate with the investment community as evidenced by poor stock performance, and hold or sell signals from the analysists. perhaps my local Tenneco rep. summed it up when he said "the wheels are coming off." Why is the board not doing something? What are they waiting for?
Seems like everyone hates this Mead fellow, and many feel the marketing of the products is missing the customers needs. Well if you really are stockholders, who amongst you will attend the annual meeting and personally question the board's and other big wigs' judgement? Or, is there enough mad as hell stockholders that will commit on this board to voting out the board with their proxies?
That's a very good idea - let's see, of the 169 million shares outstanding I own, oh, 500 or so through the 401K and stock plan. 500 divided by 169 million would give me approximately how much influence, would you say?
I am surprised none of the larger shareholders (institutional, etc.) have been very vocal about the companies cost structure. But then, that was the reason for the move to Greenwich (to be closer to the Street), wasn't it?