"salary of $369,000 per year"- did you include bonuses which run about 30% (?) for "100% or more" achievement per the BoD Compensation Committee?
It seems Rip prefers to invest in and hold stocks OTHER THAN IDCC. Maybe Rip's consistent actions over the years imply a management process to take as much personal cash from the company as possible while diluting investors as much as possible?
It seems our management team is not truly aligned with shareholders to drive profitability of the company and the stock value.
Even analyst Tom Carpenter and one of our largest institutional owners (Heartland) have complained openly about the personal management greed at IDCC. In addition to the complaints by analysts and institutions about our CoB, Harry, IMO, Rip is a very expensive excess baggage "hanger-on" COO that serves no great value to the company other than as a Mr. Outside to fill just some of Howard Goldberg's deficiencies as CEO.
Specifically, it seems Rip's main purpose (other than to collect a fortune from investors) is to speak well and give presentations at "outside" events like investor conferences. I don't see why an IPR company needs a COO, and especially one that is not aligned with shareholders when it comes to driving profitable operations and our stock value.
Instead of one very experienced and competent CEO, we have two incomplete very expensive overcompensated Mr. Inside (Howard) plus a Mr. Outside (Rip).
What investors need to keep site of is that all this redundancy, incompetence, excess spending, excess bonuses, excessive stock option and RSU grants, lack of cost controls, lack of profitability, lack of alignment with shareholders, etc. are costing us OWNERS DEARLY NOW AND IN THE FUTURE. This is money IMO wasted that comes right out of our portfolios and pockets.
While I hope to have a happy new year in 2005 and I wish the same for all of you, I am not happy with the apparent lack of shareholder alignment and outright GREED displayed by our top leadership for their own personal gain.
And their personal greed is evident before the company is solidly profitable, before we are clearly successful licensing top users of our 2G and 3G IPR, and our returns in the form of stock value mostly underpeforms the general market.
Thank you Harry, Rip, et. al.!
MO,
Corp_Buyer
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