PSA 0.00% 5.5¢ petsec energy limited

question of management for b2

  1. 1,317 Posts.
    Hi B2. You were casting nasturtiums at the Petsec management the other day so I did a little research and discovered that throughout the whole PSA debacle of 1996/7/8 when a lot of other oilers went to the wall, CEO Terry Fern sold very few of his 27 million shares. I think he sold 2 million in 2000 when the shares by that time had been reduced to monopoly money. The directors of all people should have known what was in store for the company. So Fern watched $200 million reduce to $2 million without jumping in the lifeboats, takes guts to do that, and the belief that he could turn the situation around. Which seems to be what is happening. Have a nice weekend.
 
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