I have been struggling to see Gary Cavey’s vision of a brighter future for Ballantyne. When I check my broker statement each month, I see nothing bright, only under performance of Ballantyne (BTN) stock. For this reason, I understand and support Steve Thompson’s frustration and vision of trying to put BTN up for sale. If other members of BTN stock feel the same as I do, I hope you will show him your support and post similar messages. Hopefully, Steve Thompson has looked at BTN’s message board. I personally owe Gary Cavey nothing. As a shareholder of BTN’s stock, he owes me something but has not delivered. Mr. Thompson, I would start by contacting the over 5% holders of BTN stock listed in the proxy statement. I would have a detailed plan on what you would like to accomplish and how you plan on doing it. I have talked to some fund managers on issues before. They made it clear to me, they would give me advice and work with me, but they did not want to undertake the process themselves. Another fund manager had suggested nominating new members to the board. If you can gain their support, part of the battle will be won. Good luck Steve Thompson.
Cavey...how's that potential acquisition going? Just letting the seller know that it's going to be down right difficult for BTN to write you a check for your business. Because they can't or won't even do it for their most loyal sharehlders. What good is a warchest if you are never going to use it? Especially when they are earning practically nothing holding on to the cash.
The stupidiest decision in this whole buyback mess was issuing a formal press release announcing to the world that they were going to stop the buyback. Who in the right mind does such a thing? Most other companies just stop a buyback and don't announcing anything. They leaving the illusion open that it could resume. Not BTN. PR's are rare from them, yet when they do decide to announce something they just step on their d*ck time and time again.