F&G, I'm sorry to post as often as I do but I can't stand to see someone of your reputation not understand, at least in a post to the world, that it is extremely important to have the key personal with a big incentive in equioty potential. Most of that stock I will bet has restriction on it if given under most plans. Have you never studied what goes on with new companies, private companies, etc. When I met with George and asked about his involvement I urged him and the company to make darn sure he had an incentive to be successful. We could come up with a thousand stores of golden parachute, golden handcuffs, hire on incentives, signing fees, etc.
To give you an example in case you have not experience this part of business, let me give an example I know of personnaly and could point you to company docs to verify. A middle manager moved to a position of VP of Sales in Silicon Valley. He got - sit down for a minute - a signing bonus of $750,000, half immediately, half in 6 months- just another sales management position; salary of over $200K, with double that in commissions at 100% of goals; stock option for @250K shares a single digit costs - in less than year he was worth on paper $40M. Company selling software with sales under $100M. Obviously the $40M got crussshed in this market but he doesn't even run the business and I know no one protesting in front of the building, then or now. Boring but one of many stories. The COB of Cisco (and CEO before Chambers), John Morgridge worked for stock and light salaries for years and 2 years ago was worth over $4 Billion on paper. Nice man that I worked with at Honeywell and no one would criticize his haul. Lee Iococoa - another case...and a thousand others.
So George has ONLY 200,000 of shares in his pocket and is taking a minimal salary ??.... if he's good and can pull this off, he's way under paid!!
So Rich and George - do a great job for us stock holders and let's ALL profit big time!!
I know, too rambling but what the heck, want to support my point.
zagdad
