It has been a long 5 yearsHere we are 5 years after Mr. Gambow left the Company. (Mr. Gambow was the original experienced Director, President, and Sales/Marketing officer who started the Bohnam production facility and originated rising sales of the rail pressure relief valve.) In the 5 years since his departure, sales have collapsed while the stock markets have performed exceptionally well:
- Dow Jones Average – up 78%
- S&P 500 – up 212%
- NASDAQ – up 280%
- Trinity Industries- up 56.22% (Kelso’s largest rail customer)
How does Kelso look after those 5 years?
- KIQ – Down 42%
- KLS – Down 44%
During these last 5 years, there has been virtually no investment in
rail, a dubious heavy investment in an off-highway suspension system, no other projects to position the company for success,
management has paid themselves more than $3,000,000 in salaries not to mention over $200,000 to directors. FOR WHAT?!?!?
There are so many things wrong with this picture! With this level of performance shareholders in any real company would have booted management long ago. Shareholders – WAKE UP – WE NEED TO VOTE THIS MANAGEMENT TEAM OUT AND GET PEOPLE IN THERE THAT KNOW WHAT THEY ARE DOING.
Now is the time for shareholders to stand up and start pressing the board and management with questions that demand an answer.
- How much money has the company poured into the suspension system?
- Is there an actual market for this system?
- Where is a solid marketing plan for the suspension system?
- How much more will be spent to get the product finished?
- Is there a launch customer?
- Does the company have a management succession plan?
- Management should take a pay cut while the company is losing money!
- Are the non-rail products selling?
- Are the Rail Sales Representatives, if any, actively working with key customers to secure more rail product sales?
You get the idea. Send emails to
bond@kelsotech.com;
lee@kelsotech.com;
ohanley@kelsotech.com;
crews@kelsotech.com;
jvcrews@gmail.com;
asmith@kelsotech.com;
andrukaitis@kelsotech.com;
petehughes@kelsotech.com; hughes@kelsotech.com
Tell your friends who are shareholders to send emails too! Force some change!
Vote your shares-WITHHOLD…..when proxies are received in early May