OTCPK:STVMF - Post by User
Post by
indoubtgetouton Feb 05, 2015 9:01pm
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Post# 23402187
Board Should Resign Too!
Board Should Resign Too!Typical Calgary energy company board. Numerous examples of CGY boards reacting in this fashion. FIRE THE CEO! Yet it is the board that hires the CEO in the first place. Given where SVY has been and is now, the underperformance is likely more a function of a dysfunctional board of directors with motives most likely not in favor or shareholders. Most of these board members are part of E&P companies that use SVY to drill and service their rigs. It begs the question as to why SVY has for years had margins well below that of its peers? Why is it SVY cannot charge the same price for the same service as its competitors??? Why does it undercharge? The board is also overpaid....in relation to its peers, about doubly overpaid. So getting rid of the CEO does nothing to fix things. The interim CEO is definitely not qualified to run SVY either. So what do they do the idiot BofDs? SELL THE COMPANY TO ANOTHER COMAPNY WITH BETTER MANAGEMENT AND BOARD. This is their only option, now. This the inly way current shareholders will have any hope of eventually making their hard earned money back. Way to go BofDs for destroying this company. Lesson to note now is DON't invest in any companies the SVY board are involved with....you will lose your money there too.