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whatever
perhaps i'm wrong but I think they need to proofread their flyer...
Hear how PWC substantially lowered the TCO or their IT Infrastructure through the utilisation of industry standard embedded security.
Ford Adds Security and Other Features to Sync System
By RIVA RICHMOND
The Internet is coming to cars – and so are security systems to keep viruses and hackers out.
Ford Motor plans to announce Monday a set of data-security technologies for Ford, Lincoln and Mercury vehicles that have Sync — a system that lets car owners connect digital media players and Bluetooth-enabled mobile phones to their vehicle’s entertainment system and operate them with voice commands or controls in the steering wheel. Sync, which Ford developed with Microsoft and first released in 2008 models, also provides driving directions, traffic information and weather, sports and other news.
Sync is available in most midrange models as a $395 option and comes standard in more expensive ones. Car owners must activate Sync, but about 70 percent do so, Ford says.
In 2011, Sync will also allow Wi-Fi Internet access and Web surfing when the vehicle is in park. And this development will open the door to new electronic security issues. Malefactors could look for ways to access a car’s computer systems via the Internet, much as they do today with PCs.
With that in mind, Ford is introducing new security features to ensure that no harm can come to the vital systems used in the operation of the vehicle or to the valuable personal data brought into cars via mobile devices.
Ford has not yet seen any malicious virus attacks or hacks of vehicle computer systems, says Jim Buczkowski, director of global electrical and electronics systems engineering. But he said preparing for that possibility now that the car and consumer-electronics world are colliding is “just prudent.”
Customers are likely to get “all the good things as well as the bad things” that come with Internet connectivity, he says. “It’s important that we take those lessons learned from the Internet and bring them to the car.”
To start, Ford has added a hardware firewall that regues what information may pass between the entertainment system and the vehicle’s computer. The two computers must exchange information about things like GPS location, temperature and speed. But the firewall bars connections by any external parties looking for direct access to the vehicle’s computer.
Moreover, the entertainment computer does not allow the download or execution of any applications, which could include malicious software. While users will be able to get upgrades of the Sync system, those won’t come via the Internet connection. Rather, customers must download Ford’s updates on their computers, put them on a USB thumb drive and plug that device into the car’s USB port. The computer won’t accept any new software that isn’t from Ford. (Any changes to the vehicle computer must be made at a dealer.)
Ford is also adding tools that protect personal information, such as contact lists and address books provided to the car by mobile phones and music libraries provided by digital-music players. And it’s introducing a “valet mode” feature that lets drivers add a four-digit PIN to protect programmed home addresses stored in their navigation systems from prying eyes.
Finally, Ford is unveiling several new locking features to deter would-be car thieves, including an “engine immobilizer” that prevents hot-wiring and a code system for entry without a key.
No one knows
No one knows what they'll do with proceeds. From today's 424(b) 5 filing..."USE OF PROCEEDS
We estimate that the net proceeds we will receive from this offering will be approximately $2,743,000 (or $4,734,000 if the warrants are fully exercised) after deducting the estimated offering expenses. We will retain broad discretion over the use of the net proceeds from the sale of our Class A common stock offered hereby. We currently anticipate using the net proceeds from the sale of our Class A common stock hereby primarily for working capital.
We may also use a portion of the net proceeds to acquire or invest in businesses complementary to Wave's business, products and technologies. Although we currently have no specific arrangements with respect to acquisitions, we evaluate acquisition opportunities and engage in related discussions from time to time. "
Do we care? Air Force & HP. Wasn't USAF mandating TPM's?
Air Force to buy 141,000 PCs from HPSilicon Valley / San Jose
The U.S. Air Force will buy more than 110,000 desktop PCs and 31,000 notebooks in a semi-annual IT purchase from Hewlett-Packard Co., the company said Wednesday.
Palo Alto-based HP (NYSE:HPQ) did not disclose financial terms of the deal.
The devices will be distributed to Air Force bases around the world, HP said, adding that the Air Force has bought more PCs and workstations from HP than from any other vendor or manufacturer.
This latest deal includes the USAF's first purchase of mobile workstations, which provide high-end graphics capabilities, a larger screen than typical notebooks and enhanced processing power.
Overall, HP said it has delivered more than $185 million worth of products to the USAF since October 2004.
KeV, from TCG site....."Promoter membership is at the invitation of the TCG Board of Directors."
Jeff, Even if he "makes me rich" he still lied!. SKS lied, simple as that.
Character is the issue. When did character become obsolete in America? In finance you attach probabilities to scenarios when you're discounting future cash flows. How can anyone objectively attach a probability to an outcome when your ceo, who provides guidance to the investment community has a history of telling untruths?
best, vickers
They Can't afford wavexpress! end of story!
Jaybeaux, sure
FWIW re:Dell tech support knowledge of TPM
FWIW re:Dell tech support knowledge of TPM. Last night we had to reload the op system and drivers on my new latitude 630. The Rep was extremely knowledgeable with respect to everything including the TPM and Embassy Trust Suite. We spent well over two hours reloading everything and then he helped me to activate the TPM and set up the Embassy Trust Suite. He even helped me create a test document and save it in the vault. I was very pleasantly surprised at the depth of his familiarity and knowledge of TPM's and Wave.
Genz, All due respect, Re:insider buying, that's nonsense. If he said that he's a liar. EOM
Chance to see, well stated, well reasoned post. Thank you
Thank you Doma...yes, it works
can anyone post a link to 3rd qtr. 07 CC transcript? I think SKS said something pretty big that may have gone unnoticed but I want to confirm first. TIA
Dell Notebook Security Recommended Best Practices:
From Cooler's find..
http://www.dell.com/downloads/global/shared/notebook_security_best_practices.pdf
Dell Notebook Security Recommended Best Practices:
September 2007
The following areas should be addressed to help deliver optimal notebook PC security:
1) Security Audit Services
a. Dell Recommends the ISO 17799 Audit (SKU A1270104)
b. Dell also offers additional security professional services
2) HDD Encryption (Helps protect data if Notebook is stolen)
a. Dell Recommends the Dell HW Encrypting HDD with Wave’s EMBASSY Trust Suite for Dell 3.0 Enterprise software (Legend Code 120DENW)
b. Dell Recommends managing HW encrypting HDD with Wave™ Systems Embassy Remote Administration Server (ERAS) SW (Deployment bundle SKU A1233138)
c. Dell also offers SW encryption solutions from Credant™, Pointsec™, Safeboot™, Utimaco™ and others.
3) File and Folder Encryption designed to protect files from being read by unauthorized users on the local HDD, when shared with others or stored on other devices like USB memory devices and enables E-mail encryption)
a. Dell recommends using the managed TPM based encryption solution from Wave Systems
b. Dell also offers other encryption solutions including e-mail content protection SW.
Jkirk..John, don't be sorry for venting; I did a little of that myself!:) I wasn't at all happy with the CC but who knows, maybe we'll yet be rewarded. I've waited this long, one more quarter won't kill me....Good Luck
Competition?
On a different note he mentioned that they won out over a competitor that they went up against for the first time. Did he mention who it was and why we won? I think the second question is an important one. I would hope that we won out based on quality of product and service as opposed to strictly price.
Tampa, what I heard as well
JKIRK, I mean no disrespect to you and appreciate that you're looking at this optimistically but FWIW to me personally, words & phrases like, "we are seeing growing interest in the use of the technology", "strong interest in our product", "pipeline of opportunities", "tremendous up-tick in interest", "customers are considering the deployment" are old and worn. Guess we're getting close to finding out if we'll ever see any meat on these old bones SKS keeps throwing us
Best, Vickers
HP Encryption and Key Management Solution
Doesn't seem to do anything with TPM based encryption but....
Companies Bolster Privacy, Disclosure Compliance with New HP Encryption and Key Management Solution
Monday October 29, 9:30 am ET
FRANKFURT, Germany--(BUSINESS WIRE)--HP (NYSE: HPQ - News) today introduced a centralized, hardened security appliance to help data center managers improve privacy compliance and reduce the risk of costly data-loss due to theft.
The HP StorageWorks Secure Key Manager consolidates key management for encryption devices deployed in enterprise and mid-sized businesses. Security is improved by providing a single control point across the data center.
The company also announced the HP StorageWorks 9000 Virtual Library System, which provides scalable backup and recovery of data.
Removable media and portable devices, such as tape cartridges and notebook PCs, carry substantial security risks. HP ProtectTools, an existing HP software suite, significantly reduces these risks for notebook PCs. HP Secure Key Manager extends that security to the data center.
“The holistic approach of HP Secure Advantage to address enterprise-wide security is evident in HP StorageWorks Secure Key Manager,” said Jon Oltsik, senior analyst, Enterprise Strategy Group, an industry analyst firm. “HP clearly understands all of the complexities in securing a corporate infrastructure and is one of the first vendors to deliver a comprehensive solution to address security concerns for the enterprise and mid-size corporate data center.”
Introduced at Storage Networking World Europe, Secure Key Manager will initially support HP LTO-4 enterprise-class tape libraries. It is the latest addition to the HP Secure Advantage (http://www.hp.com/go/security) portfolio of software, hardware and services, which provides integrated security from the desktop to the data center. Security is a key enabler of HP’s Adaptive Infrastructure (http://www.hp.com/go/ai)portfolio, which helps customers evolve to a next-generation data center.
“Privacy and disclosure regulations drive the demand for key management solutions to mitigate risks,” said Bob Wilson, vice president, Nearline, StorageWorks Division, HP. “Secure Key Manager is the first step in our plan to offer centralized encryption key management services that span across storage, servers, application and network domains in the enterprise.”
Secure and reliable encryption key archival
Secure Key Manager offers identity-based access, administration and logging, which provides strong auditable security measures for customers under government compliance mandates in financial, healthcare and retail industries.
With lifetime key archival and automatic multi-site key replication, Secure Key Manager provides high-availability clustering and failover capabilities to safeguard keys and reduce bottlenecks during high transaction periods.
This solution has been submitted for rigorous U.S. government FIPS 140-2 security validation.
Data security for effective business continuity strategy
The HP StorageWorks 9000 Virtual Library System provides scalable backup and recovery that accelerates performance in complex storage-area network environments.
Integrating seamlessly into existing data protection solutions, the Virtual Library System enables a two-stage backup strategy with initial backups to disk, followed by data encryption and migration to tape.
Data security for notebook PCs
Drive encryption for HP ProtectTools encodes every bit of information on hard drives in notebook PCs so that it becomes unreadable to an unauthorized person. This feature ensures sensitive information cannot be accessed if the notebook or hard drive is lost or stolen. All critical personal and business data stored on personal hard drives is made safe without user intervention.
Drive encryption is a standard feature in all b-class or higher HP business notebooks, offering hands-off secure data encryption at no additional cost.
More information about HP storage security is available at www.hp.com/go/encryption. More information about HP’s solutions and services for enterprises is available in an online press kit at www.hp.com/go/acceleratebusinessoutcomes.
question re:Danbury
Pardon me if I'm asking a moronic question but will Danbury, in any way, include any Wave IP which might provide additional revenue? I'm presupposing the answer is no but what do I know?! TIA
Best, Vickers2
iTunes movie rentals? Maybe soon
iTunes movie rentals? Maybe soon
Apple is said to be talking with major Hollywood studios about adding 30-day rentals to its iTunes online media store.
September 11 2007: 11:57 AM EDT
http://money.cnn.com/2007/09/11/technology/apple_rentals/index.htm?source=yahoo_quote
NEW YORK (CNNMoney.com) -- Apple is in talks with major Hollywood studios about launching a movie rental service from its popular iTunes store, according to a report Tuesday.
Apple (down $0.99 to $135.72, Charts, Fortune 500) is believed to be working towards starting the new service some time in the fall which would offer a 30-day rental for $2.99, according to the Financial Times.
A deal would allow iPod users to watch movies during the rental period without purchasing the entire film, which could be a very popular service for the millions of users of the video-enabled version of the device.
iTunes rentals could mount a serious challenge to cable and satellite TV providers who are working on offering a large library of on-demand films from the major studios, said the report.
Video on demand has been lucrative so far for cable companies like Comcast (Charts) and satellite operators like DirecTV (Charts, Fortune 500), but none of the cable operators has as many customers as Apple does.
Rights management software would allow the movies to be viewed on an iPod or iPhone, but would prevent them from being copied, according to Financial Times.
Apple already sells films online, including titles by Walt Disney and Paramount. But the number of films available on iTunes is still small compared to the number of titles available on DVD.
The major studios, including Sony (Charts), News Corp.'s (Charts) 20th Century Fox, Viacom's (Charts, Fortune 500) Paramount, Metro-Goldwyn-Mayer, Time Warner's (Charts, Fortune 500) Warner Bros and Disney (Charts, Fortune 500) declined to comment on the report, according to FT.
Unclever--Thank you..you are not alone
Best..Vickers
Dutton
Symbol (Nasdaq)
Wave Systems Corp.
Robert Goldman
WAVX
Industry: Computers, Technology & Internet
Recent Price: $2.00
52-week Price Range: $1.65 - $3.85
Target Price (12 Months): $4.00
Avg. Daily Vol. (3 mo.): 126,606
Fiscal Year Ending: December
Year EPS P/E REVS PSR
2005 A $-0.63 - - - $1.02 88.0
2006 A $-0.51 - - - $3.12 28.8
2007 E $-0.37 - - - $10.2 8.8
2008 E $0.08 25.0 $39.0 2.3
2009 N/A - - - - - - - - - - - -
Balance Sheet Data (mil) 06/30/07
Cash Equivalent: $12.5
Working Capital: $9.7
Long-Term Liability: $0.0
Shareholder's Equity: $11.2
Ownership and Valuation (mil)
Shares Outstanding: 44.90
Inside Ownership: 4.00%
Institutional Ownership: 9.00%
Equity Market Value: $89.8
Current Rating History
Date Assigned: 5/17/2005
Price at Rating: $0.69
Original Price Target: $2.00
Time Frame: 12 Months
Notes on Quantitative Data
EPS data adjusted for 1-for-3 reverse split of July 2006.
Rating: Strong Speculative Buy
08/09/2007
Wave Systems Announces 2Q07 Results; Reducing 2007 Estimates; Reiterate Strong Speculative Buy Rating
Summary and Conclusion
After the close on Wednesday, August 8, 2007, Wave Systems Corp. (NASDAQGM: WAVX) announced 2Q07 results, for the
period ending June 30, 2007. Revenue for the period was lighter than our forecast. We attribute the shortfall to shipments of
Wave's software bundled with Seagate's Momentus 5400 (Full Disc Encryption) FDE.2 hard drives not commencing until the third
quarter, and lower-than-expected enterprise revenue.
Given that the Seagate-related business has essentially been pushed out one quarter from our original forecast, we are reducing
our top-line estimates for the balance of 2007 to reflect lower Seagate-related revenue. We have elected to leave our FY08
projections unchanged at this time, pending greater clarity on this front and enterprise sales during the balance of the third
quarter. In our view, despite the soft sales figures, demand for Trusted Computing technology is strong and the Company remains
uniquely positioned to benefit from the expected demand. Furthermore, Wave management is doing an admirable job of
strengthening the ties to its key technology partners which we believe will pay considerable dividends in the future.
Financial Highlights
Revenue for 2Q07 was $1.4 million versus $910,000 in 2Q06, and was lower than our $2.375M estimate. Loss per share was
($0.11) as compared to ($0.13) in the year-ago period, and was greater than our forecast, reflecting the lower than expected
revenue. SG&A expenses of $6.1 million were incrementally higher than the projected $5.8 million. In general, profit margins were
essentially unchanged from recent quarters. Shares outstanding of 44.1 million for the period increased by 7 million shares from
the first quarter of 2007 which reflects a greater number of shares outstanding resulting from a $15.0 million offering that
concluded during the period. The raise enabled Wave to end the quarter with $12.5 million in cash and equivalents and no longterm
debt.
Company Highlights
Although financial results did not meet our expectations, the Company has achieved important milestone achievements recently.
As noted above, Wave software-integrated Seagate FDE drives shipments commenced shipment only a few weeks ago. In
addition, these sales and pipeline and the associated Remote Administration Server (which achieved first sales in the quarter),
have been enhanced by the deployment of Wave evaluation kits to very large prospective enterprise customers. The Wave/Dell
relationship has been strengthened with the co-marketing of this important product as Dell is now the only PC producer offering a
TPM and management of a FDE laptop from the same vendor. During the quarter, Wave also released the next generation of the
EMBASSY Trust Suite to Dell, which offers greater authentication functionality, more features, supports Microsoft Vista, and is
easier to use.
Separately, by working closely with Juniper Networks and to a lesser extent Microsoft, the Company has positioned itself nicely
within the Network Access Control segment with its endpoint integrity software solution. The Wave offering complements these
two firms' offerings to provide strong, tamper resistant machine identity, in conjunction with network access control. When
incorporated with the Wave TPM and server, remote management of this endpoint is achieved, as well as the production of a
certificate illustrating regulatory data compliance.
Estimate Changes
We are reducing our top-line numbers for the balance of the year to reflect the delay in Seagate-related product shipment, and
slow enterprise sales. Our new estimates for 2007 include revenue of $10.2 million, down from $14.2 million, previously, with a
loss per share forecast of ($0.37) versus our prior ($0.27) estimate. We are leaving our 2008 estimates unchanged at this time,
pending greater sales clarity following the third quarter 2007 reporting period.
Despite the soft sales, Wave is well-positioned with its partners and in our view, its pipeline, to generate meaningful revenue for
the first time, beginning in 2H07. In addition, we believe that the current price reflects these factors, and as such, the risk/reward
at current levels is favorable. As a result, we reiterate our Strong Speculative Buy rating.
Current Dutton Associates disclaimer and 17b disclosure information regarding Wave Systems Corp.
Information, opinions or recommendations contained in Dutton Associates' research reports or research notes are
submitted solely for advisory and information purposes. The information used and statements of fact made have been
obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. Such
information and the opinions expressed are subject to change without notice. A Dutton Associates research report or note
is not intended as an offering or a solicitation of an offer to buy or sell the securities mentioned or discussed. Neither the
Firm, its principals, nor the assigned analysts own or trade shares of any company covered. The Firm does not accept any
equity compensation. Anyone may enroll a company for research coverage, which currently costs US $35,000 prepaid for 4
Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $65,000 from the
Company for 8 Research Reports with coverage commencing on 05/17/2005. Reports are performed on behalf of the
public, and are not a service to any company. The analysts are responsible only to the public, and are paid in advance to
eliminate pecuniary interests and insure independence. Please read full disclosure and other reports and notes on the
Company at www.DuttonAssociates.com.
The views expressed in this research report or note accurately reflect the analyst's personal views about the subject
securities or issuer. Neither the analyst's compensation nor the compensation received by Dutton Associates is in any way
related to the specific recommendations or views contained in this research report or note.
Dutton Associates. John M. Dutton, President, 4989 Golden Foothill Parkway, Suite 4, El Dorado Hills, CA 95762 Phone
(916) 941-8119, Fax (916) 941-8093
Periodic Research Reports and Research Notes on this Company are available at our web site:
www.DuttonAssociates.com.
© Copyright 2007, by Dutton Associates
Re:"80% success rate"
I suppose it depends upon how you define success. I'm still a believer but I take everything SKS says with a boulder of salt.....
From the transcript; "we've seen customers that either purchase some initial volume of units or have told us that they intend to purchase an initial volume of units. They have been about 80% of the customers who actually tried the evaluation kits.
Intention does not equal a sale.
He's been burnt? Investors relying on his forward looking statements are scattered across burn wards all across the country!
Genz-re:insider trading
No, they can buy anytime they want as long as they are not trading on material non-public information. Ex.Just signed contract with HP that will have a material effect on stock prioce when announced. Trading in that situation would constitute illegal insider trading. Other than that they're free to buy/sell. Sorry, this has become a sore spot with me as many like to offer the reason for no insider buying as officers not wanting to run afoul of securities law.
best, Vickers
http://sec.gov/answers/insider.htm
Insider Trading
"Insider trading" is a term that most investors have heard and usually associate with illegal conduct. But the term actually includes both legal and illegal conduct. The legal version is when corporate insiders—officers, directors, and employees—buy and sell stock in their own companies. When corporate insiders trade in their own securities, they must report their trades to the SEC. For more information about this type of insider trading and the reports insiders must file, please read "Forms 3, 4, 5" in our Fast Answers databank.
Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information.
Examples of insider trading cases that have been brought by the SEC are cases against:
* Corporate officers, directors, and employees who traded the corporation's securities after learning of significant, confidential corporate developments;
* Friends, business associates, family members, and other "tippees" of such officers, directors, and employees, who traded the securities after receiving such information;
* Employees of law, banking, brokerage and printing firms who were given such information to provide services to the corporation whose securities they traded;
* Government employees who learned of such information because of their employment by the government; and
* Other persons who misappropriated, and took advantage of, confidential information from their employers.
Because insider trading undermines investor confidence in the fairness and integrity of the securities markets, the SEC has treated the detection and prosecution of insider trading violations as one of its enforcement priorities.
The SEC adopted new Rules 10b5-1 and 10b5-2 to resolve two insider trading issues where the courts have disagreed. Rule 10b5-1 provides that a person trades on the basis of material nonpublic information if a trader is "aware" of the material nonpublic information when making the purchase or sale. The rule also sets forth several affirmative defenses or exceptions to liability. The rule permits persons to trade in certain specified circumstances where it is clear that the information they are aware of is not a factor in the decision to trade, such as pursuant to a pre-existing plan, contract, or instruction that was made in good faith.
Rule 10b5-2 clarifies how the misappropriation theory applies to certain non-business relationships. This rule provides that a person receiving confidential information under circumstances specified in the rule would owe a duty of trust or confidence and thus could be liable under the misappropriation theory.
For more information about insider trading, please read Insider Trading—A U.S. Perspective, a speech by staff of the SEC.
1260, insider buying
1260, all due respect but the BOD and corp. officers would have no problem buying. At worst they would restrict themselves to a pre-planned periodic purchase program. They simply agree to buy a certain number of shares or dollar amount of stock at regular intervals. The simple fact of the matter is that currently they see no need to own more stock than they already have or can acquire through option exercise.
best, vickers
Motorola & Trusted computing
I'm sure this must have surfaced previously(?) but I never saw this and found it interesting. It's from 2005 but shows that Motorola is very aware of trusted computing and mobile devices...
http://www.cdg.org/news/events/CDMASeminar/050513_Tech_Forum/8%20LChen_Motorola.pdf
oknpv, it's 45 days following the end of the quarter. Extensions are pretty easy to obtain and they (the institutions) can even request confidentiality. I did some checking and the Yahoo numbers are provided by Thomson, the Naz numbers by Edgar Online. Both have historically been pretty accurate.
In this instance I suspect a processing error as the number of shares held was the same on both the original filing and the amended filing.
For the curious, while Deutsche Bank is listed as the filer they actually report opn behalf of all of the following and the position is listed as having shared investment discretion....
01 28-05041 Deutsche Bank Trust Company Americas
(formerly Bankers Trust Company)
02 28-05033 Deutsche Bank Securities Inc.
(formerly Deutsche Bank Alex Brown Inc.)
04 28-10152 DWS Deutsche Bank Gesellschaft fur Wertpapiersparen mbH
05 28-10154 Deutsche Asset Management Limited
06 28-10155 Deutsche Asset Management Investmentgesellshaft
08 28-10157 Deutsche Unit Trust Managers Limited
09 28-10160 Deutsche Investment Trust Managers Limited
10 28-10249 Deutsche Investment Management Americas Inc.
11 28-04760 ROPRO US Holding, Inc.
12 28-10158 Deutsche Asset Management Investment Services Limited
13 28-10300 DB Capital Partners, Inc.
14 28-10468 DWS (Austria) Investmentgesellschaft mgH
15 28-11401 Deutsche Asset Management Schweiz
16 28-11403 DWS Investments Schweiz
17 28-05053 Deutsche Asset Management, Inc.
18 28-11476 DB Equity Limited
19 28-11509 Deutsche Bank (Suisse) S.A.
20 28-11997 Deutsche Bank National Trust Company
21 28-11998 Deutsche Bank Trust Company Delaware
22 28-11999 Deutsche Bank Florida, National Association
23 28-12000 Deutsche Bank Trust Company, National Association
24 DWS Trust Company
Ispro, oknpv, FWIW these filings are frequently amended after the original filing takes place. In those instances an amended 13F is filed. It's also possible that there was a processing error.
best, vicklers
Unclever, thanks for the correction. Nonetheless, I don't like guaranteed bonus'. BTW, what did he receive an incentive bonus for?
Micro-thanks for your feedback. I guess for far too long I've been guilty of not treating my analysis of Wave as I do any of my other investments. I agree with you in that senior execs. should be compensated fairly. I have no problem with an appropriate base salary (although even here I cringe when I hear someone imply that $250,000/yr. is a number inadequate for the CEO of a company, let alone one that doesn't make money. Sorry, but that's a fair salary. To then provide a guaranteed bonus ($260K in '06) with no tie to performance and on top of that provide an option award for '06 of $200,671, well, that's just excessive given the company's historical & present position. Oh, one other little thing, options need to be set above market at levels that reward management as shareholders are rewarded.
Thanks Svenm, agreed. eom
Bonuses:Am I alone in being troubled by the guaranteed bonus' paid to execs at Wave? How the hell is it an "incentive bonus" if it's guaranteed? I've just read 4 10-K s from various companies and each of the others had incentive bonuses that were tied to reaching various stated milestones/objectives. In two companies no bonuses were paid in 2006 since milestones were not achieved but our directors at cash strapped as hell Wave deem it proper to pay a guaranteed bonus? I just don't get it.
No on both
Thank you rachelelise! Finally someone who says, "maybe the 1998 package was too rich! exactly. BTW, where do we suppose the new strike prices will be on options grants going forward? You know darn well they'll be much lower than what's out there now. Options are an incentive, not a gift.
As for the BOD, you could buy a rubber stamp and seat it at the table. It would cost us a lot less! best, vickers
Wavxmaster-=-ignore? No, sorry, have just skimming and missed your post so as I surmised, someone (you:)) beat me to it! thanks, vickers
I'm surprised (maybe I missed it) nobody has jumped on the "I'm sure we'll never issue them" comment (or to that effect) from Steven to Snacks when addressing the 500K number. Then why the hell do you need approval for the 500K allotment?
Kite; no, nothing written here has changed my mind. I'm a big fat-you have to be kidding me-let's be freakin real, no!