I couldn't agree more about management change, starting with Rich Carty. Carty has done NOTHING except cost the company a large amount of money. His being put into that position was a terrible idea. He has no oil and gas experience, let's put him in as CEO. Great idea!
Actually, I am anything but a bear. I own a very substantial amount of this stock and I am way, way underwater. I am really not trying to have an argument, just stating what I believe to be facts that have impacted the stock price and my portfolio.
I totally agree that the drop in the stock price is not in any way solely due to Carty. The entire energy sector is suffering, some more than others. I do believe if they had someone running the company that knows the industry, the stock price would not be where it is. I don't think you can count out the fact that the head of the company doesn't have a clue what he is doing and does not communicate with the stockholders. He has done nothing positive since being put in this position, except spend the company's money and drive away good employees.
Finally, some communication from the company. I wonder what type of fire had to be lit under Carty's butt to get him to finally put out a press release. I wish the fire would be so hot that it would send him right out the door. I personally know of several people that have left the company solely based on Mr. Carty. He is definitely not popular with the employees. They need to get Chronister back. At least he knows the energy business and was not despised by the employees.