Capt'n -- for some your post 14125 has been removed. I agree with most of what you had to say there with a few exceptions...
"New" management wasn't here 6 years ago. Since Jamison became CEO, CPST has turned around completely and posted improved numbers ever since. Mr. Jamison joined Capstone Turbine Corporation on December 18, 2006. Okay, I was off a week or two about DJ. The majority of the remaining upper management team has been in place 4 to 5 years. I agree that they too have a personal stake in making the company profitable but we do disagree on what is suitable compensation. No problem with that. As far as the Fortune 500s I agree with you also (heck, look at the fix Meg Whitman is in right now.)
I think you are wasting your time stressing the warranty costs as a problem. CPST's natural warrantly level is insignificant at only $.5 million in 2Q. 40% of reliable warranty adjustments in the quarter are related to logistics, freight and VAT. Yes, I saw that in the 2Q but the answer was, as you pointed out, "the natural warranty" not the unexpected warranty that is also of a concern to management who also stated that it isn't going away as quickly as once hoped. Bringing in Paul Campbell to assist in this area was a good move.
Officers only get royalties if they meet their given objectives. Reread my post wherein I was speaking about Royalties to UTC.
You should know that Safe Harbor statements are given by EVERY company before reports. They mean nothing and only serve as legal protections. To hint that they are in some way a predictor of future performance is very misleading and fear mongering and a diservice to investors..... Of course I'm aware of Safe Harbor statements and I didn't make a hint that they were a predictor of future performance. Most all of them I read actually disclaim that past performance is no indicator of future performance. I was simply comparing the length and detail of two different ones Q3 2012 and Q2 2013 -- take a look. The comment about accountants was basically tongue in cheek (could have said the same about attorneys too--sort of comes with the territory. Check out Meg Whitman/Autonomy/Deloitte for an example) There was absolutely no intent to mislead or instill fear, and my comment was not meant as a disservice.
I am still invested in Capstone and do dedicate a considerable amount of time researching and writing, in an attempt to offer another viewpoint, information for discussion, and answering other members questions to the best of my ability. I don't expect that everyone is going to agree with my views, but nevertheless I can throw my two cents in, at least I hope I can.
Thanks for the real facts BTW. It is good to be reminded of them occasionally and perhaps you could venture into deeper waters and answer the question posed as to why the pps is below a buck. As McMurphy said in One Flew Over the Cucoo's Nest "But I tried, didn't I? Goshdarnit (sic), at least I did that.
AI
