Comments for VNBC - Stockpickr! Your Source for Stock Ideas

Comments for VNBC

Added By	Comments	Type	Date Added
barrons2	Shareholder Douglas Kratz is concerned with the company's delay in filing its annual report, as well as the board's opposition to the recently completed consent solicitation by Jon Salmanson and Norman Morales, who successfully sought to have the company's bylaws modified. Kratz says that he is "outraged" at Vineyard's continued delay in filing its form 10-K with the Securities and Exchange Commission. In addition, the investor maintains that it's "utterly ridiculous" that it has taken this long to resolve any technology/accounting issues, and a timing issue related to loan-loss provisioning in back-to-back fiscal quarters. Kratz added that he might seek the removal of one or more members of senior management, or might initiate a tender offer for more or all of the company's shares. Kratz currently holds 530,000 shares (5.2% of the total outstanding).	Love	May 10, 2008