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I have read all the post's this weekend and a couple things keep bugging me too. One in particular is the addition of " a merger or aquisition with TPL excluded" from point (a) below:
(a) A successful M & A acquisition brought forth by Mr. Goerner, (a merger or acquisition with TPL excluded), approved by the board of directors,
Someone help me understand this exclusion and why it was added to the list of qualifiers for Goerner. Is there a standing M/A offer already in place from TPL? That our BOD of directors really doesn't like, but they haven't completely ruled out yet? Does Goerner get 120 day's to put together a better M/A with someone else?
I also get the feeling Goerner maybe approached PTSC about the position, with a potential deal that he thinks he can put together. If, he were given the CEO postion at least temporarily. To the BOD, Turley surely wasn't getting it done. I think Goerner may have one or more than one prospects in tow. Maybe they will even compete over being our partner? Something about the incentives he has been given and the short term he has been given, to accomplish them, leads me to believe he has a deal partially put together already. The BOD said ok, you think you can put something better together for us, we are all ears - show us what you can do. Thus, his short term work agreement. He won't need to be here long if he can accomplish the incentives the board has given him.
Also, with regard to the size of the J's settlement. Does anyone recall just prior to the mediation period in court. Both sides were asked by the court to clairify there position and TPL simply made the statement that "the J's know what we expect"! I'll bet we got what we were asking and we as shareholders will like it.....
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