Muscle Pharm Corporation (MSLPQ)

[Magnyseeum]

deafelephant Thursday, 08/25/16 03:01:13 PM
Re: None
Post #
79151
of 79171 Go
I like this Ryan Drexler guy - you should see the letter he wrote to the CEO of Quicksilver, it's brilliant! He really didn't hold back at all. Here's an excerpt:

Quote:
As for yourself Mr. McKnight, the company paid you total fiscal 2014 compensation of more
than $3 million in your prior position as executive chairman – almost three times the former
CEO – and more than $6 million in the prior year. You received this pay while the stock price of
the company plummeted 85 percent and the company suffered a net loss of $320 million; a net
loss that now exceeds the market capitalization of the company by more than $20 million. Given
the abysmal performance of the company under your direction, your compensation package
would appear to be quite excessive, especially since $2 million of your compensation in 2014
was for monthly “severance” payments, despite the fact that you never left the company.

I don't follow your logic?

Mr. Drexler clearly states he considers Quiksilver and Mr. McKnight not likely leaving the company a liability at a minimum, if not a full red flag, yet Mr. Drexler chose to purchase 3.5m shares of Quiksilver under the control of Mr. Mcknight as opposed to selling short Quiksilver or at the minimum take no position until Mr. McKnight departs. Mr. Drexler suffered significant losses on his long Quiksilver investment. What is to like about that decision?

It's akin to looking out your window to see a severe rainstorm and then deciding to wear your best suede footwear and sports jacket without the use of at the minimum an umbrella.

Mr. Drexler's decision is hard pressed to be described as brilliant either in 2014 or hindsight today.