Loop: Read for yourself: Your support of management in this recent partial post of yours gives me goose bumps...... Comments to follow.
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"Thus, we have mangement making substantial sums of money by selling into sunny days, watershed events and MOMENTUM. These sales are OK with everyone except some question the timing. You do not strike out on a high outside pitch that would have been ball four during a rally. The act is known as a rally killer. It is contra MOMENTUM that has shifted your way.
Moral of the story is that the arguments for incentive do not work unless the parties making the deals cannot prosper on not reaching a stated goal. These guys missed their stated percentages by a wide margin that effects the share holder far greater than option holder. The share price is rising because of a lesser result in 2g which was around long before these guys came on board the options train. The incentive was not there to grind out that extra .5% because the share price would rise with just about any mention of some recurring royalties after all these years.
Please do not take this post as management bashing. To the contrary, we placed these guys in this position of different motivation. We would all do the same. We want the highest and best rate and they just want decent cash flow going into 3g. We loaded them up too soon. Will we make the same mistake again as we enter into 3g? Probably, and if we do that is life. I would like to let them know that more gold is available if 3g licensing captures the eates they have advertised over the years and the lower the rate, the less gold they can expect. I believe it offers incents and aligns the interests a great deal more.
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Thankfully you state that this is not management bashing. What is it then, constructive criticism???
You stated:"We loaded them up to soon."
Sounds like you are implying that management and the BOD has hoarded the options authorized to them in the past and just fattened their own wallets and did nothing else with them. What a wonderful management endorsement that is.(NOT!!!)
You then go on to say: Will we(shareholders) make the same mistake again as we enter 3g?" "Probably."
Another glowing comment about IDCC Management and the future, right?
Would a newbie to the IHUB board find you to be a supporter of management if they had read this post and others you have made?
I am not trying to stifle your right to voice your opinion at all. It's a free country.. With that said, I have the right to let you know that as a long time shareholder you appear to me to no longer be a supporter of IDCC's management. And despite my respect for you, I must tell you that the reasons that you state to this board for voting "no" on #2 lean far more towards management punishment than sound financial reasoning. You talk about DC's concern about option expensing as a rational for you voting "no". Who gives a frogs fat ass about Washington and it's potential legislation?? What does that have to do with IDCC right now?? And the buyout rumors....What does that have have to do with #2?? and please don't tell me that Management is trying to authorize the 5mill options so that they can capture another windfall instantly upon a buyout because that is absolute crap and another distrustful statement regarding management.
Ken
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