I’ve been critical of leadership at LL for a long time. But today, I am the one wearing the clown costume (and elf pajamas)
Tom Sullivan got me good. I supported him and his team, and he certainly showed me how the game is played. Tom came in touting management change and strategic review, but in the end, he simply did a quick “dine and dash” leaving shareholders twisting in the wind. I lost money. I am certain many investors did too. Tom walked away with about $5.5 million in profit.
Once again, long time LL shareholders get fucked while people who don’t deserve anything, take all the reward. It was definitely not a classy move and I take responsibility for courting Tom and for voicing support. In the end, I was as much a victim of this con as other shareholders, but that’s no consolation. Sorry guys.
For the literary ones, this whole thing reminds me of Mark Twain’s “The Royal Nonesuch” https://www.pbs.org/kenburns/mark-twain/royal-nonesuch
For the ones who don’t read, this scene might make sense.
Tom’s cell number is (804) 267 9182. If any shareholders want to drop him a nice little note to say how happy they are that he made $5 million. Enjoy!
I appreciate your work LLVC…keep it up !! We learned a lot about Sullivan and suspect this unscrupulous behavior is how he runs his new business…I’m sure those employees will end up on the short end as well. The distraction has been removed for Knowels now lets see his turnaround plans develop. I see some positives (recent CEO 15K share buy, new CFO, Cali lawsuit resolution…).
Mr. Rizzi I was critical of you about supporting Tom Sullivan a few months ago on Seeking Alpha. Nonetheless I too lost money and it’s little consolation that my caution about him was vindicated. You are, in my book, a mensch for stepping up and accepting responsibility. The markets are brutally hard sometimes and they bring out the worst in people today being one shining example. But thanks for your honesty.
Mr Rizzi, I appreciate your work LLVC keep it up.