Associated tags: Lawyer, Security (finance), Proxy, Democracy, Letter
Locations: DALLAS, TX, US, NO, GEORGIA, MISSOURI, PARK
DALLAS, May 08, 2024 (GLOBE NEWSWIRE) -- Focused Compounding Fund, L.P. (“Focused Compounding”) today issued its operating plan (its “Operating Plan”) for Parks!
Key Points:
- DALLAS, May 08, 2024 (GLOBE NEWSWIRE) -- Focused Compounding Fund, L.P. (“Focused Compounding”) today issued its operating plan (its “Operating Plan”) for Parks!
- Focused Compounding urges shareholders to vote for Focused Compounding’s nominated director candidates.
- Focused Compounding has a plan it believes will maximize value for all shareholders.
- The Plan outlines what Focused Compounding’s nominees would propose to do if they are elected to the Board of Parks!
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Management DALLAS, April 02, 2024 (GLOBE NEWSWIRE) -- Focused Compounding Fund, L.P. (“Focused Compounding”) raises concerns about Parks! America, Inc.’s (OTCPink: PRKA) (“Parks! America” or the “Company”) Chief Executive Officer, Lisa Brady, and her lack of operational skills in an open letter to the Parks! America’s Board of Directors, and advises stockholders that they have a choice on the future direction of the Company at the Company’s annual meeting scheduled for June 6, 2024. Focused Compounding urges stockholders to vote for Focused Compounding’s nominated director candidates. The full text of the letter follows.
Key Points:
- America” or the “Company”) Chief Executive Officer, Lisa Brady, and her lack of operational skills in an open letter to the Parks!
- Why are Focused Compounding (long a passive and supportive stockholder) and this Board fighting such a vicious fight over Parks!
- Lisa was snuck in the back door as a director (not a manager) long after Focused Compounding bought 17% of the Company.
- The break between Focused Compounding and the current board began when Dale (an experienced operator) was maneuvered out as CEO and Lisa (a non-operator) was chosen as CEO.
Retrieved on:
Tuesday, February 27, 2024
Preliminary results show a clear majority of votes cast were in favor of replacing the current Board with Focused Compounding’s nominees.
Key Points:
- Preliminary results show a clear majority of votes cast were in favor of replacing the current Board with Focused Compounding’s nominees.
- The Focused Compounding slate received approximately 57% of votes cast, while the current Board received approximately 42% of votes cast.
- If these same results had occurred at an annual meeting, Focused Compounding’s nominees would now be in office.
- With the upcoming annual meeting date (June 6th), we believe there is now a near-zero possibility of the current Board receiving more votes than the Focused Compounding slate at the annual meeting.
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Security (finance) DALLAS, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Focused Compounding is pleased to announce the nomination of Jacob McDonough to their board slate for Parks! America’s June 6th annual meeting. Mr. McDonough earned a Bachelor of Arts in Finance from Michigan State University and is the Founder and Portfolio Manager of McDonough Investments, a capital management firm that manages capital for clients as a registered investment adviser. He is the author of “Capital Allocation: The Financials of a New England Textile Mill (1955-1985),” a book that covers Warren Buffett’s capital reallocation from a failing textile mill to other profitable companies during the early days of his control over Berkshire Hathaway. We believe that Mr. McDonough’s experience in capital management and capital reallocation will allow him to maximize shareholder value as a director.
Key Points:
- We believe that Mr. McDonough’s experience in capital management and capital reallocation will allow him to maximize shareholder value as a director.
- America’s situation today is a lot like the one Buffett faced when he first assumed capital allocation duties at Berkshire.
- This extreme underestimate of the Missouri park’s true cost does not include interest on borrowed money or reflect opportunity costs.
- Jacob McDonough: After Warren Buffett took over Berkshire Hathaway in 1965, the company was able to substantially reduce overhead costs.
Retrieved on:
Thursday, January 18, 2024
In a democracy, you don’t write the other side asking them to please cancel the upcoming election.
Key Points:
- In a democracy, you don’t write the other side asking them to please cancel the upcoming election.
- We know there is a chance that some of the company’s directors will refuse to resign even after losing the special election.
- If you win a special election in a way that causes owners to retch at your behavior – is that a win?
- The special election you want us to cancel is everything we’ve been dreaming of from day one of this campaign.
But that’s a risk the other shareholders will have to take if they want this thing to be a legitimate public company.
Key Points:
- But that’s a risk the other shareholders will have to take if they want this thing to be a legitimate public company.
- To that end, Andrew and I, as principals of Focused Compounding, will take no fees or other compensation.
- I’m writing this letter in the hopes there might still be a couple good apples on that board.
- – We believe the best case for a new board is the way you’re trying to cling to power.
