It's very important, when a CEO has been in charge for as long as this one has, with the record of significantly subpar long term returns, that he is willing to be accountable for his failures, and not make up nonsensical excuses or "snow" the investment community. As a 2.5% owner of this company, let us hope that i will not be "frozen out" of the next conference call, and that the entire call will be made available. (I see no transcript yet, and wonder if it is available on the company's website.)
Mr. Bazet's excuse making machine is unseemly, unbecoming, and inappropriate of a true leader.
I have found that part of the problem with Cobra is that the board has no independence from Mr. Bazet. In this sense, the company's governance is fundamentally dysfunctional, and there is little or no accountability for Mr. Bazet.
Given that SeekingAlpha doesn't post a transcript and Cobra edits the transcripts for its websites, I doubt the actual sense of LTF's comments will be properly portrayed.
I have held COBR shares for too long; unfortunately I didn't sell them all during the last run-up. But I see no reason to be optimistic after the last CC and plan to sell my remaining shares.