IBR plant and meetingsFrank Dixon’s last job was working for a transit company, managing bus drivers. He knew absolutely nothing about bringing a start-up company to profitability. He also knew nothing about the workings of the IBR plant. He put his nose into everything and took no advice from anyone. Those who are kind believe that his behavior could be attributed to a general level of incompetence and an incredibly exalted ego.
There happens to be a faucet that has to be turned on in order to avoid overheating the air-cleaning equipment. By an unbelievable set of circumstances during Frank Dixon’s tenure, the faucet was turned off and eventually, the air-cleaning equipment was damaged. When this was discovered, the damaged parts were replaced. There is no more to it than that, unless one concludes that this was intentional and part of a conspiracy to shut down the plant.
As far as the annual meeting of one year ago—my understanding from observers is that the meeting was stormed by Canaccord salesmen and hangers-on, shouting and screaming at the Van Dykes. There is no question that a terrible mistake was made at that time by the Van Dykes. They were totally unaware of the reputation of the Canaccord brokerage and believed that the unruly and belligerent crowd was a fair representation of the shareholders. Obviously, it was not. At the last annual meeting in December 2001, Frank Dixon was crushed by the share holders by a recorded vote which was--ninety three per cent for the Van Dykes’ slate and seven per cent for the Dixon’s slate. Not all the bellowing of the few Dixon supporters can change that vote. Frank Dixon and his followers have no real support from the shareholders’ group.
In addition, his record has established that he is not deserving of any support from the shareholders' group.