HOW ZUCKERS CAN FIX NORDEX
First, remove the dead wood on the Board of Directors. Start with the Chairman James O'Reillt.
The death stench follows this wherever he goes. Look at the history of publicly traded companies he was involved in at the board level when he joined Nordex in 2010. All where diluting shareholders until they disappeared from trading. Prominex Resources Corporation was halted from trading in April 2015 for failure to maintain transfer agent. New island Resources were delisted for failure to pay listing fees. There is not one example of success I could find when this guy was involved. Is Nordex going to fail next? In my opinion that may be inevitable if O'Reilly is involved with Nordex in foreseable future.
The rest of them (with possible exception of Bourgeois) should also be kicked out. Their track record calls for it. Under their watch the company is running out of cash, is not profitable, at the edge of insolvency. Stock is at 5 year low.
Nordex has all kind of problems . Very bad inventory management system, receivable collection, serious human resources issues. After Pat Leclerc (he should have been CEO) retired production problems began. They were magnified when Gord Schumacker (the man behind Scorpion). The firing of Andy McKnight raises concerns about safety issues at the plant .
All of these problems have a connection to one man: James taylor, the highly paid and
underqualified CEO. He has been a failure and shareholders have paid a high price for his wrong judgements. He must go. The sooner the better.
Zuckers may be stealing the company, with the help of Taylor. Again , rather than doing pro rated
issue (rights issue) he goes his old way of picking up a party to take the control position at a very attractive price , just like he did when he did the massive dilution at 45 cents when the stock was trading at 60. he may be the most incompetent CEO in the Canadian corporate history. Zuckers should bring back either Kozak or Levesque to take Taylor's place. The advantage of Levesque is that he will likely work for minimal cash compensation just like he did when he was the President of the company. At the time when All Group boys dumped him he was the largest shareholder of Nordex, so his interest is aligned with shareholders.
Zuckers may need help from people wh know this company well and know where all the skeletons
are. I can think of only 3 people that could help Zuckers : Amin, Bruziewicz and Levesque, the last
three good directos we had at Nordex, until All Group Financial Services putsch in 2012. They should pick any two of them (for balance) put them on the board along with their 3 people.
Anybody going to the meeting?