gmoneypenny... this is not so much a response to your personal post, but I will use it to quote in a effort to make my point.
"I'm very bothered by the fact that Steve is avoiding a very simple, but very important question."... I think Steve's only problem is, posting on this (or any other) board. Name me 1 CEO that keeps his investors informed as well as Steve does? What other CEO's comes on a board to post news and answer questions ? In my experience... NONE !
Yes, there are some important questions that remain unanswered, but again, he has provided more timely information than any other CEO I know of. Most barley talk at shareholder meetings, and some you never hear from EVER ! My opinion… he is providing everything he is able to as CEO.
Providing financial projections is a no-win situation, and in fact its a always-lose situation, not to mention the liabilities involved if the projections are not spot on. In my opinion it would be irresponsible of him to get on a message board and project revenues, or say (as CEO) what profit centers are producing and which ones are not.
"It seems he is becoming more interested in name-calling and learning the identity of each poster vs. directly answering the question"... partially answered above, however if (as CEO) you have an opinion (or outright knowledge) of perceived untrustworthy actions of those apparently seeking to destroy your reputation and/or company, he certainly has the right of free speech to post a rebuttal. AND... he has the right to due his DD on investors just like investors do on him. People get on here and boast that they have x-million shares… what is wrong with validating that information?
“If we could only wrap our brains around the metrics that are driving revenue,”. That’s what DD is for. If anyone was thinking of investing in Apple, or Microsoft, do you think they should be holding it against the company because the CEO does not answer their direct questions? Yes, large companies (and small alike) occasionally give investor meetings, with a small time allotted for Q&A, but they dance around the areas they chose not to answer. They tell you want they want you to know, and nothing more. People seem to want a guarantee in life, or, someone to blame when things do go as they wanted. If Steve gets on here and states there will be x-amount of revenue, and misses that target… he would be labeled a bum. Why would any CEO with an ounce of intelligence do that?
IMO… those that are upset that Steve is not answering their questions, I feel, are holding him to a higher standard that that of other companies (a double standard if you will). Ask yourself this… if you own other stocks in your portfolio… how many of those companies have you ever had a conversations with the CEO ???
Everyone knows this frustration being played out on this board is from the low (and recently falling) PPS. You are misdirecting your frustration onto the CEO. Those that are frustrated, to the point of posting on a message board, that you will sell your shares if the CEO does not specifically address your questions… is just misdirected anger. Those that are losing money currently have no one to blame but themselves for staying in as long as they have. Do you really think Steve is purposely taking actions to drive the price of the stock down ??? He and Joseph own 60% of the stock… are you nuts thinking he would drive THEIR share price into the ground? To think Steve and everyone at ICPA is not doing everything they can to build value into this company… is just your frustrations, anger, and unrealistic expectations getting the best of your common sense.
Give the man a break… he has been more forthcoming than any other CEO. In fact, not only give him a break… thank him for being as upfront as he has been. He is under no obligation to do so.
That’s my 2-cents. Not directed any one individual, but to the many posters that feel Steve is hiding something.
