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No. of Recommendations: 0
It is difficult to believe how quickly Tow has dismantled this company. Daryl Ferguson and Michael Love are disgraceful, misinformed and poorly suited for their respective positions - unfortunately, they are Tow's closest advisors and set to take over the new telecom and public utility sectors after the slpit. The record of this management team is unforgiveable and inexcusable. Lately they are trying to blame the current state of affairs on the long gone Mr. Spears, but he is just a scapegoat who left because he could no longer tolerate the questionnable business practices of this less than honest management team (particularly Tow). These folks do not have a plan and keep making bad decisions at great cost to the investors and employees and customers. Tow and the rest of top management must go, and the sooner the better. There is no credibility here and never will be. Now there is talk of a reverse split to increase the share price - and that will be a disaster that will fail due to Wall Street's lack of faith in this sorry bunch.
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Good to see some activity on this board. What a sorry state of affairs!!!!! This was the #1 performing utility stock in the whole USA over the last 50+ years till the Tows got hold of it!! I am even outraged that this idiot's WIFE is on the board of directors!!! This breaks one of the primary rules re: trying to diversify strategic input!!! What a cheesy operation!!!! Unfortunately, I own lots of shares and am hanging on, hoping for some white knight to come along!!!
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Don't hold your breath waiting for the current management crowd to move on. I can't imagine 1)how they mananged to gain control of the company in the first place or 2)how they've stayed around so long. However it ends up I'm sure Mr. Tow will depart the company with a significant gain, while leaving the value of the company that much less! I'll hold on to my few shares, though, just to receive the annual report with the "turn around strategy du jour". What a joke!
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OK, I won't hold my breath. It was really depressing to wade through the dozen postings, re-inforcing my already low opinion of this, my *worst* performing stock. (except for a highly speculative holding in a West Coast tech company -- at least they have a good excuse!) This spinoff move appears the last, best hope of gaining any shareholder value from this turkey. If (dream on!!) CZN ever gets me back to break-even, I'll pull the trigger and move on.
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