Mon, Feb 06, 2017
Aero-News: Quote of the Day
ANN's Quote of the Day usually derives from current news, though we reserve the right to pick quotes out of history that have a bearing on the day's events and issues.
Sometimes, you'll find them timely and in keeping with the content of the day's news... and sometimes, they'll just be thought-provoking.
Reader suggestions and comments are welcome... and if particularly intriguing, timely, or poignant, may themselves become future Quotes of the Day.
Let us hear from you, folks!
Aero-News Quote of the Day
"The Board’s actions since the entry into the Cooperation Agreement have convinced us that it is either unwilling, or unable, to manage the urgent issues Air Methods now faces. The time for incremental tweaks has long passed, and stockholder patience is exhausted. Reactive or ad hoc maneuvers, such as last year’s shotgun acquisition of Tri-State and eleventh hour Board reshuffle, won’t fly this time around. Much more sweeping changes are required, including substantial reform of the Board and strategy, and we intend to pursue them vigorously. Should the Board continue to refuse to work with us, we shall seek to elect new independent Directors at the 2017 annual meeting with the proper incentives, experience and fortitude to confront these challenges and to faithfully represent the stockholders for whom they stand as fiduciary."
Source: Text from a letter sent to Air Methods' Board of Directors, J. Daniel Plants, Chief Investment Officer for Voce Capital Management as one of the principal shareholders in Colorado-base air ambulance company Air Methods Corp. threatens to run its own slate of board members at an upcoming annual meeting.
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