Finally, a director spoke about some personal observations he had made about financing inthe trucking industry. First, he noted that CCI was one of the few major common carriers that had nolong-term debt in their capital structures, while CCI’s price-earnings ratio was among the lowest inthe industry. Second, he wondered whether Ms. Thorp had given consideration to the possibility ofissuing preferred stock. This director had determined that CCI could sell 500,000 shares of preferredstock bearing a dividend of $10.50 per share and a par value of $100. The director criticized Ms.Thorp for failing to deal with the issues he had raised.