Glentel Inc GLNIF

RE: Another Director Resigns only one left

[Robert40]

"operating income before interest and taxes for the 3rd quarter in theBusiness Division was a loss of $684,000 compared to a loss of $362,000in 2008. For the nine months ended September 30, 2009, operating incomebefore interest and taxes was a loss of $1,024,000 compared to incomeof $142,000 in 2008."

This was the exact reason John B. sales director was shown the door because of poor performance of Business Centers and shawnk did not believe me then. For him Dan Lowndes is a hero. Though John's exit was sugar coated to make it sound like it was a routine retirement but reality may be he will join the competition like other 3 directors soon. Who they are foolin?, When their present two directors can work from home in USA and Ottawa then why can't John work from his home in B.C. was a news to me  and others. After 3 years of restructuring the loss is 9 times higher in 9 months.(1,024000 compared to 142,000). Now they can't blame anybody else so economy is at fault for poor performance of Business Centers and not that of Retail Centers. Canadian dollar was at its highest level so their import cost was way too low for all products. It is the man behind the machine. If men are not technically qualified they can't run the business. Spectrum sales needed towers, Glentel towers were not utilized so they were loosing money. Company from USA is giving tough competition to Glentel in VSAT business. Verizon from USA snapped their biggest existing mobile satellite customer of their network using the same terminals and Glentel started loosing money on their latest greatest hub from day one. Service department is run by non qualified director and his men from east. It is a sureshot strategy for failure. If Glentel Business Centers keep doing the business same way over and over again they can't expect different results. It is time for responsible heads to roll or sell business division in the best interest of shareholders. Shares can jump 25 year high as soon as Business Centers are sold or new management under Carry takes over. good luck.