Brian is right in his most recent post ..... we need to address the PDS issue of who should be seated and who has the say in who those folks are..... I believe without any question that the Leckrones should not have a say in any seating arrangement and I also believe that our boards say should be handled by Otterson as Gloria and Carl I can honestly say have never impressed me with how they handle their obligations in watching out for the rights of PTSC....ie. the average shareholders rights and concerns.
Now to the TPL/BK running commentary......Our problem as I see it is that we, the PTSC shareholders do not have strong, real strong, strong as nails representation in this tpl bk situation. I believe that PTSC needs to hire a fire eating bk attorney who knows the Bankruptcy law like the back of his/her hand. Every time DL or for that matter anybody puts forth a proposition that in anyway gives the Leckrone family a way out, a way up, a loophole etc etc .... OUR attorney should file a brief to the court and to the bk committee with the primary thought that there is no reasonable reason we should give the Leckrones anything they are asking for unless it is to hold the door for them on their way out of our collective investment lives.
Unless the Leckrones file a statement that they are giving up and will disclose where all their funds are located and will give the keys to all their safe deposit boxes etc (not a pipe dream just a fantasy on my partI there should be nothing else they could want from the BK court imo that we should agree to.
I appreciate (almost) everybody's posted comments on this board. If only, let me repeat IF ONLY our Board of Directors would grow * p*** and follow the some of those suggestions or my suggestion about hiring that fire breathing attorney, (Ron are you upset enough to breath some fire now that San Diego's gift to NO, Drew B did not take you to the promised land, New Jersey in Feb?).
Many on the Agora board are putting forth viable suggestions, I refer to Ron or Brian or Laurie or one of a growing number of shareholders that have seen the light these three have been shining for quite sometime. The board of ptsc sits on our somewhat large stash of cash (large in that it could hire an attorney such as I recommend without depleting that stash to any large degree. OR......
I propose that Flowers take a 20% cut in pay and bonus which would be enough of a start for our fire eating attorney to start a short verbal/written confrontation with the Leckrones self serving motions. Motions that imo would be laughable but I fear might be allowed as I do not see anyone from the bk committee making some very obvious points as to why NOT even one of these motions should be taken seriously. Example one.... what is Leckrones daughter doing being allowed to play both sides of the fence?
It is my belief that the ptsc board of directors (lower case on purpose) that they they do not take aggressive action, such as hiring a real PTSC advocate, so as to maintain their retirement fund (our cash). I am waiting for the day that one of them magnanimously decides to bow out. That day will come with a written commendation from the remaining members applauding the selfless work of the resigning or retiring member made for the company. Therefore they have voted the individual a severance package of a size that would choke a horse or more appropriately an ass. And then a follow up statement would be included stating that for future reference this same package will be in force when the remaining two board members decide that they can no longer physically or mentally continue with the arduous task or running PTSC.
IMO, Patriot now has reason enough to hire our own representative. An advocate such as I describe that would insist on certain things to protect our rights and assets. A person that would strongly and rightfully argue that before any one of Leckrones motions be approved that a forensic audit be instigated by court order of all of TPL, Alliacense, PDS, the Leckrones (the entire family) his girl friends and yes PTSC and it's Board members BOOKS.
It is my belief that such an audit would and once again this is just my belief, that such a through and professional audit would bring to light exactly what some of us have feared for a very long time. I will not go into what I believe would be found other then to say that the I believe that the Leckrone family would no longer be involved in anything involving the MMP moving forward other then to be answering depositions on certain very volatile issues involving our sliced bread patents.
Does anyone here know how we can as a group attempt to force the Patriot Board to take such an action? Ron would you be interested? Ron, Brian, BaN, Larry, anybody know an attorney that breathes fire, eats nails for breakfast and knows the ins and outs of California BK law inside out and would like to make a nice chunk of change? How about a forensic auditor, anybody know one that would not mind coming forward in offering (not volunteering but offering his or her services for what could be a very interesting audit? (I have been involved in a few and believe it or not a forensic audit can be a lot of fun when it involves shady characters and is there anybody who does not believe that this situation has more then it's share of shady characters?
Enough, as always I ran on and on.
Marc
