BOARD WINDOW DRESSINGS QUESTIONABLE/SUSPECTAs long as I have known Tom and FNR MGMT, I suspect and call into question the supposed new board members as a way to WINDOW DRESS the Board, to make people think it sounds good and looks good but, bottom line its ineffective, in my humble opinion.
IF TOM and MGMT and THE BOARD were serious about changing their ways and rewarding share holders they would do the following
A. Tom and TM PORTFLIO MGMT resigns and is replaced by a Strong Independent and Experienced No nonsense MGMT TEAM and Staff.
B. Current Staff of FNR is eliminated and a new no nonsense cost cutting and smart investing team is brought in, with no frills and lower operating and expense costs. Most of the money gets invested vs lavish enetertainment ( Witnessed this Enetertainment first hand)
C. TOM stays as the Chairman - Andrew and Steve resign and replaced by two more new and independent I mean Really INDEPENDENT BOARD MEMBERS.
D. Change the investments from "Pennydreafuls" (Tom's saying) and put it into real and good assets, pleanty around for the price and invest in winners and not hope and promises and stories.
Until changes are Really made then what we see of two new board memebers is just window dressing.
Current MGMT will not take this advise so I would not hold my breath.
All the above in my humble opinion, based on MKTS, and knowing Tom for over 10 years and watched things unfold.