Who will call Mr Short out if there are excuses and misses? Is the BOD alive? What power does Mr Short apparently have over the BOD that he continues to get overpaid while under delivering? I hope they are vindicated by a home run shortly, but it might be a called third strike.
We certainly are reduced to a state of hope about how the executives perform, aren't we? I don't know if that is a good basis for investment decisions. The character of management is a better indicator of future performance. We do know greed is a major component, but will that motivation help or hurt existing owners (shareholders)?
Who then is that faithful and wise steward?
Care to elaborate? Interpretation of "good vibes"? Is it that developments will enhance shareholder value, or that there is more money in the trough to pay salaries into next year? Pardon my cynicism, but I think it's well founded............
I hope you're right about the "dribbles". One gets tired of the same old, same old story and no significant evidence that top line and bottom line growth is going to happen.
What's your point about what you've been asked?
And continues to dilute. This is an apparent divergence from shareholders' interests as dilution at low share price is not ideal. Could this be because Mr. Short is getting old and wants to cash out sooner than later, regardless of the impact to existing shareholders? There is no alignment between shareholders interests and managements interests, IMHO.
The constant here is an ineffective and apparent incompetent board of directors. They have not been able to hire quality management nor control them. It's just really sad that this is the state of affairs.
My guess is that RIBT will evolve into a vertically integrated health food/cosmetics company, with the rice bran part sucking hind teat, and eventually being replaced by outside resources. The BOD will exit gracefully escaping any further embarrassment, both personal and legal, Short will head to Bend with pot of gold, and the legacy RIBT shareholders hold the bag.
I'm now waiting for the dead cat bounce to get out.
It all reminds me of the snake oil character in The Outlaw Josie Wales, only there's no one around to spit tobacco juice on that white suit. LOL. Shame on me.
"In his letter, Icahn points to a dysfunctional corporate America as the lifeblood of his strategy. He says, “true corporate democracy does not exist in America and as a result many unfit CEOs are not held accountable.” He credits his success to “adhering to the activism model which we have spent many years developing. What we essentially do is attempt to hold managements accountable through our rights as shareholders and seek to ensure the right people run the companies we invest in.”
In short, there will always be the opportunity to step in and shake up management, remove bad CEO’s, replace them with good CEO’s, and unlock value in poorly performing companies. Until every company in America is optimally run and is maximizing shareholder value, Icahn will be in business, and so will the art of shareholder activism."
Under cover of the night?
Why does he give away the company at bargain prices? At every point the stock rallies they issue shares under recent highs. And the disgusting gall of saying "above market issuance" only because they tanked the stock by rescinding guidance. I want to know who bought the recent shares but I'll never know. Google "corporate fascism" and connect the dots.
and there is no reason to price the warrants under the December warrants. This whole thing smacks of self serving management, trying to get as much out of this as quickly as possible.
What was the hurry? They were going to be cash flow positive in 4Q, right? The stock would have responded by going to 8, 9, or 10 and they would have had a much more effective issuance. But instead, they rescinded guidance, tanked the stock and issued at a lower value. I don't get it. But follow the money and that should tell all. Who got the stock and warrants this time? There's where the answer lies.
If they had they wouldn't have been able to give away the shares so cheap. This feels like a stealth sale of the company
Was it used as a cover to "retract" guidance? If so, why? Do these guys have a handle on their business or not?
Robert C. Schweitzer is Chairman of the Board. Is he doing his job in overseeing management? Yahoo list's Short's compensation at $857,000. Really, is he worth that? Belt, $417,000. I know the argument, wait until next quarter, but when does Schweitzer call the ball? Tomorrow, tomorrow is only a day away. I hope tomorrow pans out, but it's hard to keep the faith with all the bumbletruck moves going on and on.
Fair enough, hope so. Yet spreading too wide a net may cause them to miss other things, like Irgovel construction issues....how much market cap did that cost?