In a blistering letter to owners of Seattle-based Fisher Communications stock, FrontFour criticizes the track record of CEO Colleen Brown, while insisting that "we are not seeking to take control of Fisher for ourselves or for Huntingdon" Real Estate. There has been speculation that investor FrontFour's ultimate aim is to force Fisher to spin off its downtown Fisher Plaza real estate holding. But FrontFour's letter to shareholders says "for the record, FrontFour does not believe that the Huntingdon offer, in its current form, provides full and fair value for your investment in Fisher, and is not pushing the Fisher board to accept this offer." FrontFour does criticize the board for "summarily" rejecting the offer when it was made, since it was at "a significant premium to the then-current stock price." The investment company says Fisher shares ("FSCI") have lost 48% of their value since CEO Brown began her strategic plan in April 2006. It asks shareholders, ahead of a coming vote at the annual meeting, to support its own slate of directors.