Bob Chapman Lays Into Building Material Holdings

You can always count on Bob Champan of Chapman Capital to tell managers of his target companies what he really thinks. Here's a snippet from his amended 13-D on Building Material Holdings (BLG):

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 ([e-mail]; 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.

(Bold emphasis mine.)

Comments

[Jeff Muri]

Thank you Herb. Your pointing out of this filing, and my subsequent reading of the whole 13D, brightened up an up to this point dreary Sunday evening. I'd encourage folks to read the whole 13D, since even though the parts you bolded in your post shed some light on Mr. Chapman's thoughts - a complete read of the 13D is quite enlightening. *grin*

In short - it's quite a piece of literary work.

--Jeff Murri
pingplotter.com