While unfortunate, this should come as no surprise. When you purchase shares in a huge publicly-traded company with a Board largely hand-picked by the CEO, and the ownership of the company is so dispersed and unorganized that management can do practically whatever it wants with impunity… you’re begging for trouble.
This is another reason it amazes me that publicly-traded stocks trade at such ridiculous valuations (at certain times, like now). More often than not, you’re paying $1.00 for three quarters and management screws you at the same time. I just don’t get it.
