I continue to remain highly sceptical about what is going on here. The delays are simply too long and the progress way too slow. And this is not a case of just being an "arm chair quarterback". We have had 2 years with lots of promises and subsequent let downs. Yes, doing business in China is not easy, but it isn't "2 years of doing nothing" difficult either. I know there is (was?) some strong support for the management team but while loyalty requires some lenience perhaps, loyalty does not mean (or should not mean) slavishly following the leaders "forever" when it becomes abundantly clear that things are not operating as they should. The failure to update (or, worse, the lack of any tangible progress) does not help. Unless there is a radical change, the one thing I know for sure is that I will not be there when the next CR comes along - and in this market, it is probably not a smart thing to put shareholders off side when they may prove to be a funding mechanism of last resort for management salaries.
TNP Price at posting:
0.5¢ Sentiment: None Disclosure: Held
