Its been a while since I ventured on this board. Any time anyone posts here, they get attacked vicously, after all.
Though I've owned stock in RENT for as long as anybody. So catching up on like a hundred posts today, I gotta say, this board has some of the dummest shareholders of all time, and I include myself in the bunch.
These last 3 posts - 5576-77-78 really make my point as pointedly (get it?) as can be.
Recurve's expectations are shared by me, and maybe every other shareholder of every public company. Trouble is -- it is us morons who took a board that owned 30+ percent of RENT, every share of which they had bought on the market, just like us, and tossed them out in favor of PR and his BOD, who by contrast don't own bupkus.
Recurve says "RB's wife on the payroll' was inappropriate. This - in two respects - makes my pointed point:
Respect 1: Shareholders (maybe even Recurve; I sure can't remember nor do it matter) bitched about this like ten years ago. The response from our BOD then - they dumped RB's wife and hired someone else to do the identical job for two or three times as much money. So Recurve - if you were the cause - Congratulations, man! You caused RENT to spend tens or hundreds of thousands over these years to do a job that was being done for half or one third as much. You should be really proud. Proving nubuzzman's point in 5577. Bitching about stuff we know little to nuttin' about - ain't helping. DUMB & DUMBER - that's a movie - ain't it? It's also us RENT shareholders.
Point 2: The changeover from RB to PR: Is this the only thing any of you can talk about? Who gives a rat's axx? That is like so 'yesterday.' Us shareholders dumped RB were sure as heck we were trading up. What a crock.
Expectations - This company's CEO's have two things in common: They sure know to make promises and build expectations, and they sure know how to get paid lots of dough for doing it.
We can bitch and bitch some more. We can start and then restate our expections created by their promises. But, as long as we own this stock, we might as well keep our traps shut and just pray. Say anything you want about RB - but he had options on a couple of million shares, which made him real motivated to build the stock. And he sure ate well. PR - hell - maybe we should get him a couple million option shares, seein' as he obviously has no intention and, if one of these posters is right, never has had any intention of leaving his cushy job at RENT.
I'm done. Think I'll crawl back in my hole and watch my other shares. Anyone hear of google. No expectations. No promises. Just $400 a share.
I found your post most refreshing amongst all this blather.
I appreciate your somewhat accurate memory. However, RB�s wife was paid and was NOT replaced, because her service to the company was not necessary. I believe she just painted something that didn�t need painting. I cost us nothing. (the whole thing also sent the wrong message to the street and shareholders.)
Interesting take on the whole rear view mirror thing. I do feel there is still significant promise. I�m ok with the traps shut thing, �cause it really proves little benefit other than to make us feel better (sometimes). Sometime I will comment on my rear view mirror and things I have learned here.
Remember, your votes put this new BOD in place too. I never voted to approve the options though, so you can�t hang that on me. Finally, my comments are grounded in real and very successful business experience, not theory. I really do put shareholders first and only wish we were treated that way.
You are dead on as far as promises and getting paid for them. Thanks for the visit and your take.
Your not very smart if you believe that. The old board ran the thing into the ground. When they "retired" RENT had just restated prior financial statements, written down half the assets of the corporation in bad debt and was nearly out of cash. The only thing that saved the company from bk was the sale of RENT Japan to the Japanese. From there the company has not only been profitable but has also become cash flow positive something it never was (positive cash from operations) in the last few years of RBs reign. True the thing has a long way to go but its miles better than it was back then. Warts and all.