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Wednesday, May 21, 2003 10:52:39 AM
"Recruiting qualified Directors is not easy - the liabilites are substantial (an important consideration for successful business people who already "have it made"). I'd guess that Harry had to make a major effort to get these guys - especially in light of Interdig's history of struggle and failure."
First of all, the company indemnifies the directors against any liability as long as they are acting in good faith. This is liability insurance with the premiums being paid by the company. Your suggestion that anyone would think twice about being on a BoD because of liability concerns is not truthful.
Also, you are trying to portray the BoD's as being independent when any jackass can see that they are anything but, it's the same old, rub my back, I'll rub yours. How do you think they get all those options, benefits and bonuses?
"My bottom line is that the corporate structure (which, it appears, Harry built) is very pro-shareholder and is likely to provide optimal long term results."
You don't happen to work for the company, do you? Optimal long term results for who? The insiders? I'm laughing if you really believe what you are trying to convince others of. The only people that are going to be enriched are those who are able to time their buys and sells with the insiders option grants and their sales because in the long-term, I don't think this company is going anywhere.
Once
The best way to convince a fool that he is wrong is to let him have his own way.
~ ~ ~ Josh Billings
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