short follow up
I think Ingenuity's post is on the mark with respect to the IPO. There definitely is the risk that the shares tank after the IPO and we end up with worthless paper... I think that is unlikely... but it is the situation we find ourselves in.
As far as why noone has recognized the inherent value and taken a run at PLI to break it up and sell off.... I think it all comes down to the the Multiple Voting Shares that Pierre held. Basically Pierre could trump virtually any takeover attempt by exercising his MVS option on his 6mm plus shares. As we all know, the MVS are now gone.
I also think we have to remember that prior to the last major Board shakeup.... the Board was virtually inept. This value creation or major strategic shift should have happened at least two years ago. Our large shareholder group on the West Coast have repeatedly told Pierre and management that they should sell some of the future to secure the present... but Pierre and the BOD simply wouldnt listen...
I guess that's partly why I am so supportive of this quasi breakup strategy.
have a good long weekend