Cape Fox Corp. Lack of Respect
By Marilyn Blair
July 12, 2010
TO: CAPE FOX SHAREHOLDERS, Once again the Cape Fox Board of Directors
are showing their total lack of respect for the shareholders!
They reschedule our annual shareholder meeting two days before
its scheduled time and the only notification we get is a sign
on the Saxman Community Hall and don't even get a reason why!
Last year they rescheduled all the way into October and that
was because of the audited finacial statements.
In my opinion, this is the worst board in the history of Cape
Fox Corporation.(CFC) Though I do have to stick up for the board
members who try to do things properly but get voted down while
trying. Which board meeting minutes would prove if we could get
our hands any of them. They don't answer shareholder petitions.
Two years ago myself and another shareholder asked for board
meeting minutes from the past several years from a board member
who worked in the office (and still works in the office today)
and never recieved anything to this date. Where are the Board
Minutes? Are they lost or missing? Who is in charge of keeping
those records? We know as shareholders we have a right to any
information we ask for from CFC and keeping any information from
us is wrong and deceitful and causes reason for distrust.
For years shareholders have been asking for individual financial
information of board members who work for the company or it's
subsidiaries (subs). We know Clifford Blair works in shareholders
services receiving a monthly salary. Albert White has been employed
in Alabama for what was one of CFC's 8(a) contracters? Now we
find out he is also working for another one of our 8(a)subs making
thousands more per year. SO, they make monthly board member fees
and are also making monthly salaries that they refuse to disclose
to us. If you think about it, they must make in one month more
than we get in dividends per year! Sealaska discloses this information
about their board every year, AND anytime we ask for anything
from them, they ignore our requests and do not return our calls.
If CFC in 2008, is making close to $225. million and employs
625, all that Mr. White keeps bragging about, why haven't our
dividends grown significantly and why aren't any shareholders
working in any of the 8(a) subs like we were promised? Oh, wait
a minute, I almost forgot, Albert is working for one of our 8(a)
subs. If there are any others, how many and who? If you look
at the annual report closely you will see that all those millions
of dollars goes right back out in expenses. Who is really profiting
from CFC and its subs.
I think it is time we shareholders stand up and make a statement
to these guys! We know we can't trust them and we can't get any
info or answers out of them. So let's NOT vote them back in as
board members anymore! It's time to say no to people who do not
treat us with respect. Let's show them that we shareholders matter
and we have rights that should be respected.
About: "Was a Cape Fox
Board Member for over 15 years and am a Origional Shareholder."
Received July 11, 2010 - Published
July 12, 2010
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