Please look under SLGD's filings on the SEC's Edgar web site. (Yahoo, stupidly, doesn't allow the posting of links anymore.)
In the filing, among other things, I stated my intention to vote to WITHHOLD THE ENTIRE BOARD, at the annual meeting on June 14th. I also stated my intention to introduce a resolution, calling for the board to formally put the company up for sale, and "shop" it. (I stated that any price of 50 cents per share or higher, to purchase the entire company, should be accepted by the board.) Finally, I stated that if the board does not form a Special Committee, to appropriately vet offers for the company, but continues to allow CEO Goldstein to "pocket" bids, and expressions of interest, and HIDE THEM from the board, that I will sue the board for breach of fiduciary responsibility.
We are aware of your Schedule 13D filing with the Securities and Exchange Commission ..
We believe it is important for those following your reckless campaign against Scott’s Liquid Gold-Inc. (the “Company”) to understand the genesis of your Schedule 13D and Board Letter. On May 20, you contacted the Company and requested that it purchase all of the stock you own in the Company, and on May 21, you told the CEO that if the Company did not acquire your shares for $0.50 per share (even though the trading price was then $0.30 per share) you would make public, scathing criticisms of the CEO and the Board. On both May 20 and May 21, you indicated that you were only interested in the Company acquiring your shares and not those of other shareholders. This is not the first instance of your threatening the Company with negative media coverage unless the Company acquires your shares at a premium to the detriment of our other shareholders. The Board does not believe it appropriate to succumb to such threats.
Because the Company refused to purchase your shares, you made good on your threat and filed the Schedule 13D, chock-full of personal assaults and factual inaccuracies. Your filing once again has cost the Company time, energy and money and has threatened key agreements and relationships. We note that, despite your continuous destructive attacks, each of which has harmed our supplier, customer and investor relationships and shareholder value, you have continued to acquire stock in the Company. We believe this is because you intend to bully your way to a lucrative private repurchase from the Company at the expense of the other shareholders. You clothe your self-righteous critiques of the Board and management in noble language of corporate governance and shareholder rights, but the naked truth is that you desire a quick return on your investment without consideration for the long-term investors in the Company. The moment the Company has returned to financial health, ......
I think it's pretty disgusting that anyone would appoint Gerald Laber to their board. I had faith in him 2 years ago to "make the difference" at SLGD (which is why he was the only director I didn't withhold back then), but he has evidenced himself to be just another in a series of "enablers" for the entrenched CEO at Scott's Liquid Gold, and I now see him for what he is: a spineless "board sitter." He listens, I will give him credit for that; but he doesn't ACT. He's too afraid to.