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Company is better off without Smith as ceo

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spec machine   Friday, 08/23/19 10:27:48 AM
Re: uncleremus post# 107295
Post # of 107340 
Quote:
Company is better off without Smith as ceo even after paying severance. He doesn't appear to be dumping his shares although there is another 5% owner as of today.



let's parse that out, shall we?

"Company is better off without Smith as ceo" - no question about that, my mother-in-law could run the company better, both from the start and even today and she died seven years ago

"even after paying severance" WOW, you have no idea what his total severance cost is, do you? a funny little side story is the mystery (to some, but not me) around the question in the conf call about the "certain assets" that Smith walked away with in that deal

DID ANYONE EXCEPT ME notice that the answer TOTALLY AVOIDED any clue about what those assets were???

"He doesn't appear to be dumping his shares" - he can't but Butler could and did sell every share immediately on his exit. Not on the open market, instead it was a sweetheart deal dumping his big blocks for cash from DDI's unrestricted cash (there isn't much left)
Warner also could sell, and did sell every share on his exit. same sweetheart deal, cash from DDI's bank balance

Butler and Warner didn't have to sell at the much touted "discount to book value" that DPDW shares trade at. Quite simply, they knew that they would never get a better price, ever.

"there is another 5% owner as of today" Walter Schenker has been a shareholder for a while and he's the one on the conf call always asking about the carousels. He must enjoy losing money and then hearing Ron laugh in his face like it's all a happy joke!

How about looking at the balance sheet after the next Q in Nov before you try to convince yourself that the Golden Parachute for Smith wasn't so bad

none of the damage shows up on this last Q

you'll see

spec



- Foglifter -

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