Chapman’s letter worked. He publicly shamed Wilson and American Community into selling assets and paying down debt. American Community also started paying a dividend. Later, when asset sales slowed, Chapman started phoning Wilson again. His first seven phone calls were ignored. When he finally got through, Wilson told Chapman, “You’re a [expletive] pain in the ass, and we don’t want to talk to you.”[lv] Chapman put the phone call in another SEC filing, which attracted a lot more attention from the media. The result? Wilson and American Community again sped up its sales. The stock soared.
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