Post by
fistmaster2 on Jan 22, 2011 10:27pm
Death spiral continues?
So I heard a few unsubstantiated rumours from some guys in the company. Seems Kirkpatrick is scuttling back to Vancouver and closing the Ottawa office. This, after much hot air about how it would grow the business etc etc. So another load of shareholders money wasted on yet another example of poor judgement perhaps? Well, at least he will likely get to pocket another load of our money in relocation allowances, so its not all bad LMAO.
Both the Marine business and the remaining US operation are not making money - we'll see when they dare put out the 2010 numbers. The Security business is being shelved allegedly and there have been several resignations and lay-offs. But no public news - speaks volumes my fellow suckers...oops, I mean shareholders.
Really, how much longer do we all have to put up with this milking of OUR money. If the Board had any sense (and I really have to belive they don't) they would cut their losses and say BEGONE! As they all seem to be in this together, perhaps there is a case for cleaning house completely. How supposedly high-flying businessmen can allow themselves to be connected to this POS is beyond belief. I though Chowaniec was supposed to be a sharp cookie - eveidently this may not be the case...he hasn't quit yet.
The Board seems to have contibuted nothing to this business other than letting it spirak downwards under the (mis) guidance of Kirkpatrick. This is not good governance nor is it acting in the shreholders best intersts. They need to review their responsibilities and act accordingly. This is OUR compnay and YOU (Board) have to do what is in OUR interest , not continue to line your pockets with no significant results.