FrankSpeech Network Inc (INCTD)

[xanadu]

Many, probably most, of us make far less than $200,000 annually but there are still many who do. However, in today's corporate market $200,000 is peanuts. So when you consider JF and Chips salaries, think of articles like this one. Today the dreaded word bankruptcy was batted around as a possibility for Movie Gallery. Nice bonuses for driving a company into bankruptcy.

From The Birmingham News | Subscribe To The Birmingham News
Insider:
Wednesday, May 03, 2006

Movie Gallery pays bonuses:

Movie Gallery Inc. last year paid its chief executive and directors special bonuses for the "extraordinary effort" required to pull off the company's $1.25 million takeover of rival Hollywood Entertainment.

A regulatory filing shows CEO Joe Malugen collected a special bonus of $776,000 for his work on the merger. Directors got a $10,000 bonus related to the merger, the document shows.

Malugen also received a 2005 salary of $1.27 million, up from $704,000 in the previous year, and got restricted shares valued at $926,000. He didn't qualify for a regular bonus because the company didn't meet financial goals. Ahhhhh,poor fella

Shareholders haven't fared as well since the merger, which created the nation's second largest movie rental chain.

Movie Gallery's stock, which traded for nearly $30 on April 5, 2005, when the deal was completed, fetched just $2.61 Tuesday.
That works out to a share being worth 8.7% of what the pps was 4/2005