AND:
"There was no confusion in my opening remarks at the meeting, in which I chastised the board for what appeared to be the board's refusal to perform its duty, independent of management, in overseeing what management was doing, particularly as it regards determining the merits of the two reports I had issued," Walpin says.
"I started out by chastising the board and telling them their duty was not just to accept what management says, but to make their independent analysis of those reports," Walpin continues. He says board members were "clearly angry at my temerity in telling them they should not be acting in the manner of many for-profit boards, which have been recently criticized." Walpin says there was "no confusion whatsoever about our two reports, and our clear findings, which were a major part of the meeting."
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