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Bullboard - Stock Discussion Forum Alterra Power MGMXD

Alterra Power Corp is a renewable energy company. It is primarily focused on development, construction, and operation of renewable power projects. The company's business has four major segments - Construction and Development, Geothermal, Hydro, Wind, and Solar.

OTCPK:MGMXD - Post Discussion

Alterra Power > Election of Directors
View:
Post by RDK241t on Apr 19, 2017 6:52am

Election of Directors

I received the notice for the
annual and special meeting of
shareholders and will use this
opportunity to voice my desire
for change in the company.
With the exception of
Ross Beaty I'm inclined to vote
against all other directors but
would welcome some feedback
from members of this forum
before doing so.
Comment by BoldForbes on Apr 19, 2017 8:41am
RDK241t, I am in agreement.   I have been checking everyday for the Shareholder Announcement and it was not listed on the company website until this morning.  Only 22 day notice.  Traditionally a 30 day notice is given. I would like to know why I have more passion and shares than some of the board members?  I am sure the same can be said about several other individuals who ...more  
Comment by materialsgirl on Apr 19, 2017 11:05am
I will be voting no to all of them I will also vote no re Ross Beaty. As the Donald would say; the whole lot of them have been a total disaster. There seems to be a total focus on high internal pay and zero concern for shareholders. One of the worst companies for governance and high pay was Barrick.  Even they responded when big shareholders voted "nay" to them.  It took 2 ...more  
Comment by DabbleSnacks on Apr 21, 2017 11:47am
Hmm... Not sure. David Cornhill (Director) is also a founder of AltaGas. AltaGas is now ginormous. I would think that the lessons learned over time would be very valuable to AXY. He's played the energy infrastructure game a long time and that's some serious expertise. Donald McGinnes (Vice Chair) looks like a good asset too (never underestimate the value of someone who has a good bead ...more  
Comment by RDK241t on Apr 21, 2017 12:05pm
Great feedback Dabblesnacks, thank you. I look at the directors as one entity driving the company forward. If they cannot advance the company as a team then they should be replaced with new blood. I really don't see any of the directors adding value to the share price. Ultimately, the board of directors needs to recommend a new CEO for the company but I don't see that happening.
Comment by DabbleSnacks on Apr 21, 2017 12:43pm
It could be there's some disfuction within the team that prevents it from being effective. Aside from Beaty, Cornhill is the only one I feel strongly should remain because he helped build AltaGas!  :-0  Someone who has that kind of experience in growth and development should add value to the SP. I kind of feel a bigger "meh" about the CEO. He seems qualified, but... If a ...more  
Comment by BoldForbes on Apr 21, 2017 2:44pm
DabbleSnacks, Quickly...I appreciate your posts. When you read about the board they do seem credible, great...  My question is why aren't they (as a group) more effective? It seems as if they (ex-Beaty) have been quiet for a longtime.  I would like to hear from them. I am a fan of the company, but I would like to see better progress and more leadership. I guess a part of the ...more  
Comment by DabbleSnacks on Apr 21, 2017 4:44pm
All very good worthwhile questions. I'm a new investor, so I can only look at the individual parts and not how they perform as a whole over time. Perhaps they take a pointed backseat to the management team? I started looking into the board more in depth as a result of getting my voting materials in the mail. There seem to be some of the right ingredients for a good team, but it's like ...more  
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