I don't fancy this bunch any more than you do, but let's do get our facts straight. Wouldn't want anyone to compare you to, say, the DUmmies as regards facts, right?
The management is trying to "sell" their story...that dropping net income is somehow ok.
The Chandler Group is not "buying" the managements story.
The management is trying to get other current shareholders to "sell" their existing shares. For whatever reasons, and there are several, many existing stock holders did not "buy" managements efforts.
Some, like the Chandlers, believe that TRB would be worth more with different management an/or broken up. The little pieces may be worth more than the whole.