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CommonWealth Reit Message Board

  • noah_wollowick noah_wollowick Apr 23, 2013 10:08 PM Flag

    Portnoy and the CWH Board are DISGUSTING - Vote to remove them!

    Regarding the present vote to remove the board - I am pleased to see that shareholders have taken the lead in trying to stop the hemorrhaging of shareholder value and outright theft of our assets. I will be voting in full support of Corvex and Related's attempt to replace the entire board and I hope that my fellow shareholders will join me in working to end the Portnoy/Board regime - The days of them running this company as their personal piggy bank should end now!

    It's not enough for the Portnoys and present board to siphon off hundreds of millions of fees over the past few years while destroyed hundreds of millions of shareholder value by making outright illogical decisions for their own economic interests - Now that it's time for them to go away and accept that the theft from the existing shareholders can't go on forever, they instead try to hide between the legal system and forge ahead.

    I have had a couple of 'discussions' with CWH investor relations and their justification for their actions to date is laughable.

    To those institutional investors who were given discounted ownership a few weeks ago at the expense of other shareholders - It is widely assumed that you are 'management friendly' - As you consider your vote, I urge you to consider which course of action will maximize your long-term investment vehicle - I think that you will all arrive at the same decision as the rest of us!

    I plan on attending the annual meeting - The Portnoy's and clown board should know that the shareholders who they are stealing from can seek remedy for their shareholder rights.

    I personally believe the board's breach of fiduciary responsibility is is criminal in addition to represhensible. The time for you people to step aside and make this easy for yourselves and shareholders is now. If not, I hope that the legal process will expose your breach of fiduciary responsibility and pursue criminal charges in addition to economic remedy.

    Noah Wollowick

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