Bob Chapman Takes Aim At BLG, Idaho

Author:
Publish date:
Updated on

Here’s an excerpt from Bob Chapman’s latest 13D letter to Building Material Holdings. It’s pretty much what you’d expect of the old boy, if you expect some ire over excessive executive compensation, judgment passed on one’s ability to make the most basic legal and ethical decisions as they pertain to BLG and the unsolicited recommendation to dislodge body parts from places they wouldn’t necessarily be found in nature.

May 25, 2007
Mr. Paul S. Street
Mr. Street,
Given your extensive legal training at such a lower tier firm as Moffatt, Thomas, Barrett, Rock & Fields, I understand why it is that you consider Mr. Wilson's E-mail address (wilson@bmcwest.com; given to me by no fewer than two other senior executives at BMHC) so proprietary. The reason is that you are poorly trained, and apparently incapable of making sound legal and ethical decisions as it relates to the advisor to the largest owner of the company paying your excessive salary (and other compensation).
My strong advice to you is the following: remove your head from the dark orifice in which it seems naturally to find itself, and thereafter find a means of distinguishing material, non-public information from a widely available E-mail address being used to communicate a public document with Mr. Wilson. If that is not a feat within your mental capability, please pack up, head east and get back to Boise at your first opportunity.
Happy Memorial Day.
Robert L. Chapman, Jr.
Managing Member
Chapman Capital L.L.C.

Accompanying graphic redacted.
Bob Chapman Lays Into Building Material Holdings [Seeking Alpha]
Earlier: How Not To Respond To Investor Remarks

Related