Silence is deafening....

[kommonsents]

 but it is the most blatant THEFT by management and the BOD I have seen. And we shareholders had the knowledge of what they were doing all along and still did nothing....

I can't say that is the case, at least from my perspective.

Granted, there are multiple levels of communication operating on this board. But even this spring the corporate strategic vision first laid out by Hession was still being publicly promoted along with the clear financial path through to FID. Are there people on this board that didn't/don't share all they know? Of course. Are there people on this board whose agendas and investments have been manifest in posts advantaged by depressing market prices? I believe that to be the case as well.

Sure, some saw actions by Hession and asserted there was a troubling pattern forming before others. But to suggest the now clear sell out of the company by Hession and his BOD this spring was known by the SHU board and corrections were actionable? Not from my vantage point. I will point to the fire sale of drilling assets by Hession was an unmistakable marker, but that was not generally known until made public by Gump and Mulacek after the sellout was announced.

Kommon, I do share your recognition that this has all been a painful lesson. Each of us has our own takeaway. Mine has been a confirmation that the value of an investment is not determined by the value of the company's underlying assets or quality of its products.  For myself, as an individual who has bought and sold stock for 40 years, my lesson has been the value of any investment is unknowable.

That doesn't mean I don't hope the "Against" wins the day tomorrow. IOC is much diminished, but that does not mean it's not worth much more than $49US.

My point, Art, was that when the BOD proposed the rules of the game and compensation package for a sellout of the whole company, regardless of value to the shareholders, we knew that the game had changed, yet little was discussed or even encouraged to be discussed when brought up.

Yes, hindsight is great, but when the dots are there and the BOD created new rules and incentives, that was a big red flag that we, the collective shareholders mostly ignored.

Instead, we listened to what MH was saying, not what the BOD and he was doing.  Again, reinforcing the old adage, "Actions speak louder than words."  Then there is, "If it walks like a duck, quacks like a duck, then........"

Perhaps if the moderation of SHU was more tolerant to the discussion of some of the negative aspects of what was going on instead of promoting the cheerleading aspects......

[sageo]

I can't help but feel bothered by the silence.  It smells like defeat.  MH should be sent to jail.  I understand PM and the bigs need to push for their individual needs but the history of IOC is both the representation of greatness of American business (that PM could pull off what he did) and the extreme fraud of American business (that MH could pull off what he did).  I am sickened, not just by the loss of wealth but more so by the loss of integrity in IOC's leaders.  I have sat at the bedside of many patients who were in the last few hours or days of life.  Some who had millions and recalled how their dealings made them rich but "I can't take it with me" and how they questioned what they did to get what they had.  May MH and the BOD be haunted by the history of their actions in their final breaths.....

Ebster- Thanks for your fine post ." MH should be sent to jail"  ...I agree wholehardily . "I am sickened,not just by the loss of wealth but more so by the loss of integrity in IOC's leaders". Integrity is being lost in many dealings each and every day by many of our "leaders ?"

As I age,and observe some of the things happening on capitol hill and in our american businesses , not only integrity seems to be going" down the drain",but fraud appears to be more abundant.

With  so much manipulation occurring in our stock,bond and precious metals markets on a regular basis, I cogitate on what is happening to our once great country." border="0" class="smilie" src="http://shareholdersunite.com/mybb/images/smilies/huh.gif" />  { Hope I'm not being too cynical }  Advising my g-kids as to their future paths is becoming more difficult .

I hope the future is good to all our fine folks on this board !

[Relker]

I assume if there was a clear yes vote, there would have been a press release. So, It might be possible that time is used to negotiate with some large shareholders.

[oliver.gump]

 but it is the most blatant THEFT by management and the BOD I have seen. And we shareholders had the knowledge of what they were doing all along and still did nothing....

I can't say that is the case, at least from my perspective.

Granted, there are multiple levels of communication operating on this board. But even this spring the corporate strategic vision first laid out by Hession was still being publicly promoted along with the clear financial path through to FID. Are there people on this board that didn't/don't share all they know? Of course. Are there people on this board whose agendas and investments have been manifest in posts advantaged by depressing market prices? I believe that to be the case as well.

Sure, some saw actions by Hession and asserted there was a troubling pattern forming before others. But to suggest the now clear sell out of the company by Hession and his BOD this spring was known by the SHU board and corrections were actionable? Not from my vantage point. I will point to the fire sale of drilling assets by Hession was an unmistakable marker, but that was not generally known until made public by Gump and Mulacek after the sellout was announced.

Kommon, I do share your recognition that this has all been a painful lesson. Each of us has our own takeaway. Mine has been a confirmation that the value of an investment is not determined by the value of the company's underlying assets or quality of its products.  For myself, as an individual who has bought and sold stock for 40 years, my lesson has been the value of any investment is unknowable.

That doesn't mean I don't hope the "Against" wins the day tomorrow. IOC is much diminished, but that does not mean it's not worth much more than $49US.

My point, Art, was that when the BOD proposed the rules of the game and compensation package for a sellout of the whole company, regardless of value to the shareholders, we knew that the game had changed, yet little was discussed or even encouraged to be discussed when brought up.

Yes, hindsight is great, but when the dots are there and the BOD created new rules and incentives, that was a big red flag that we, the collective shareholders mostly ignored.

Instead, we listened to what MH was saying, not what the BOD and he was doing.  Again, reinforcing the old adage, "Actions speak louder than words."  Then there is, "If it walks like a duck, quacks like a duck, then........"

Perhaps if the moderation of SHU was more tolerant to the discussion of some of the negative aspects of what was going on instead of promoting the cheerleading aspects......

Kommon, I brought it up, I said it over and over,  and over, and many including you disagreed with me.

I outlined exactly where this was heading, I was clear and loud and vocal, and I was NOT obscure, and yet nada from you and the vast majority of this board.

I was often shouted down, both here and in Yazoo.

When I decided that y'all had chosen your path and that I had done my part. Now you ask why was everyone silent?

[oliver.gump]

I assume if there was a clear yes vote, there would have been a press release. So, It might be possible that time is used to negotiate with some large shareholders.

There will be no PR until after the Vote date.

[oliver.gump]

I can't help but feel bothered by the silence.  It smells like defeat.  MH should be sent to jail.  I understand PM and the bigs need to push for their individual needs but the history of IOC is both the representation of greatness of American business (that PM could pull off what he did) and the extreme fraud of American business (that MH could pull off what he did).  I am sickened, not just by the loss of wealth but more so by the loss of integrity in IOC's leaders.  I have sat at the bedside of many patients who were in the last few hours or days of life.  Some who had millions and recalled how their dealings made them rich but "I can't take it with me" and how they questioned what they did to get what they had.  May MH and the BOD be haunted by the history of their actions in their final breaths.....

Thanks Ebster, All I can say is "is there any point?" I tried to reach out to the shareholder community for many months and for the most part I was not taken seriously. I provided details financial pointers to how the ELT were being incentivised, and what the BOD had done to enable this fraud. Most of the other posters heckled me or refuted what I had to say, but now we see that I was 100% right, Hession gets the cash and we get screwed.

I tried, I tried hard to educate the people here. through others I reached out to many of the mid sized investement houses and still they chose to keep the BOD and the ELT, and they chose to reward them with bonuses and the "New Plan" whis was nothing other than a dilution of our existing investments.

At this stage the votes get tallies on the 21st, the completion hearing is set for the 28th, and Hession and his band of theives skip off into the sunset with out money, AND THE SHAREHOLDERS VOTED TO LET THEM DO IT!

There is a word that explaines this: Sheeple.

[2126]

It is disingenuous to say that those on this board did not heed the warnings from many astute SHU members. A very large minority of all shareholders (up to 38% on certain shareholder reform proposals) voted against the BOD in June [This translates to up to 80% of all retail shareholders who voted at the AGM]. Unfortunately, this was still not enough to overcome the lock-step Yes votes from the institutional shareholders.

Additionally, I applaud the efforts of Admin to keep this forum from deteriorating into a troll-led shouting match as so many other forums of this nature tend to do. His even-handed moderation of this board kept the discourse about IOC civil and reliant on facts as much as possible under the very difficult circumstances surrounding the many disappointments brought to us by IOC. Thanks very much for all your diligent efforts, Admin. They are and have been appreciated.

[kommonsents]

 but it is the most blatant THEFT by management and the BOD I have seen. And we shareholders had the knowledge of what they were doing all along and still did nothing....

I can't say that is the case, at least from my perspective.

Granted, there are multiple levels of communication operating on this board. But even this spring the corporate strategic vision first laid out by Hession was still being publicly promoted along with the clear financial path through to FID. Are there people on this board that didn't/don't share all they know? Of course. Are there people on this board whose agendas and investments have been manifest in posts advantaged by depressing market prices? I believe that to be the case as well.

Sure, some saw actions by Hession and asserted there was a troubling pattern forming before others. But to suggest the now clear sell out of the company by Hession and his BOD this spring was known by the SHU board and corrections were actionable? Not from my vantage point. I will point to the fire sale of drilling assets by Hession was an unmistakable marker, but that was not generally known until made public by Gump and Mulacek after the sellout was announced.

Kommon, I do share your recognition that this has all been a painful lesson. Each of us has our own takeaway. Mine has been a confirmation that the value of an investment is not determined by the value of the company's underlying assets or quality of its products.  For myself, as an individual who has bought and sold stock for 40 years, my lesson has been the value of any investment is unknowable.

That doesn't mean I don't hope the "Against" wins the day tomorrow. IOC is much diminished, but that does not mean it's not worth much more than $49US.

My point, Art, was that when the BOD proposed the rules of the game and compensation package for a sellout of the whole company, regardless of value to the shareholders, we knew that the game had changed, yet little was discussed or even encouraged to be discussed when brought up.

Yes, hindsight is great, but when the dots are there and the BOD created new rules and incentives, that was a big red flag that we, the collective shareholders mostly ignored.

Instead, we listened to what MH was saying, not what the BOD and he was doing.  Again, reinforcing the old adage, "Actions speak louder than words."  Then there is, "If it walks like a duck, quacks like a duck, then........"

Perhaps if the moderation of SHU was more tolerant to the discussion of some of the negative aspects of what was going on instead of promoting the cheerleading aspects......

Kommon, I brought it up, I said it over and over,  and over, and many including you disagreed with me.

I outlined exactly where this was heading, I was clear and loud and vocal, and I was NOT obscure, and yet nada from you and the vast majority of this board.

I was often shouted down, both here and in Yazoo.

When I decided that y'all had chosen your path and that I had done my part. Now you ask why was everyone silent?

Uhmm, Ollie, please show me one post where I disagreed with you on this issue.

Frankly, I don't recall you being on SHU before the OSH offer.  I did enjoy some of your posts and perspectives.  You seemed to have a grasp of what was going on and constantly alluded to being an insider with special knowledge.

Howver, today, you seem to want to be known as the ONE and only ONE that knew what was going on.

Seems the thing you may be best at is trying to toot your own horn.  Kinda like some of the politicians we see around these days.