I was doing some follow up work on my earlier post on SPCO, and I noticed something I hadn’t before. Michael Smith, the new CEO, has a long relationship with Richard Barone, the activist / board member who pushed for a sale a few years ago.
They served together on the board of MACE for almost ten years, and Smith was brought in as temporary CEO of Mace in late 2011, where Barone is now Chairman. Given their experience together and Barone’s clear motive to sell the company, perhaps the announcement was not quite as negative as my first post warranted…. though I still think it’s silly to stop buying back shares at these prices!!!!
Bringing you the content on this site involves a significant amount of time and effort. If you like my work, please support my site by shopping at amazon.com! Doing so costs you nothing (the prices are the same as if you went to amazon directly) but results in referral fees for me that I use to support my site.
The content contained in this blog represents only the opinions of its author(s). I may hold long or short positions in securities mentioned in the blog. In no way should anything on this website be considered investment advice and should never be relied on in making an investment decision. Read that last line again. Also, this blog is not a solicitation of business. The content herein is intended solely for the entertainment of the reader and the author(s).