RE:RE:1st Quarter Report and changes in leadership etc Go watch the recent video with Pioneering Markets interviewing Penhale. She pretty much spelled it out. Some things she couldn't go into specifically of course, but basically a combo of things which she clearly alludes to that caused the board to give JJ the "sayonara" door. PLD1's assessment is similar to what I gathered from the video as well.
Tenet is being streamlined now... fats, duplications, etc being trimmed.... personally I like Penahle's no nonsense reality attitude. Eloquent and intelligent, she has the experience and orientation ability along with the other board members to right the ship.
JJ had a dream and some great ideas, but no concrete bridge to get there without dluting the hell out of us shareholders. Add the AMF drama and the whole SEC and timing of U.S. politics with China , Ukraine war and Covid, it exposed the weakness of his planning.
Moral of the story, don't jump into high expansion growth without having the funds first to help accomplish it. JJ dropped the ball spectacularly. And as Penhale says in the interview, a lot of what I mentioned above is what contributed to all the delays of getting financing from financial entities... Tenet couldn't even attain the minimum amount needed. So JJ was shown the door. Listen to the video. Tried remembering from memory. :)
GLTA,
PR
stocksnbonds458 wrote: What are you talking about PLD1? Penhale gave absolutely no reason for letting JJ go, and her business plan moving forward was just typical boiler plate word salad. ChatGPT would have done a better job.