"As a Crowley Maritime Corporation stockholder for many years and a family member, I totally agree with Mr. Norberg's characterization of the manner in which the Company views it's fiduciary obligations to the minority shareholders.  Save one family member who currently sits on the Board, I don't think any Crowley family member (outside the descendants of Tom Crowley, Jr) who is satisfied with the current state of affairs with respect to the treatment of the minority shareholders.

 

"It appears that Mr. Crowley's main concern is to keep the value of the Company as low as possible due to the Estate Tax obligation he will face upon the passing of his step-mother.

 

"On the other hand,  I think that most family members are pleased with the growth of the Company due to the effort of the employees."

"The strategy of using corporate assets to insure the concentration of ownership and control appears to be a conservative approach but exposes the company to a variety of risks that have not been addressed.  Hoping for continued good leadership based on the Crowley name alone is no substitute for a mechanism of governance that sorts through potential candidates and selects on merit.  

"We need to look at expanding the base of leadership by separating ownership interests from operating interests.  And we need to recognize that there is a difference.  Such an approach might be a path to heal the rift between the small shareholders and the controlling shareholder who also happens to be CEO."