To ALL
I have been sent a message informing me that the big boys are tired of my posts. I have also been asked to sell my shares at the closing price 4/4/2003. I will split the difference with them. I will not sell, but I will make this my last post. That being said, I will briefly respond to some of the arguments last night and go my merry way.
1. Insider selling. The company announced a 10b5 and nobody complained. It is a fair system and it allows the options holders who are using the shares as compensation to sell regardless of information that they may come across during the year. It allows the holders a predictable annual compensation package. I believe that the recent sales were outside of this plan.
2. The windows that are being discussed work both ways. It provides a time to sell or BUY.
3. The arguments about diversifying are a joke. These people do not have their own money tied up in a market account. They have a bag full of options that cost them nothing unless the share price falls below the strike price of the option. Watershed events should instill confidence in management that the share price is not in any danger of falling below the strike price. They still have no money at risk so long as they perform and make the company successful. These people are adequately compensated and the 10b5 is the vehicle for depleting a percentage of their base awards and creating a consistent compensation upon which to plan their personal spending.
4. I have always been an advocate of management making plenty of money.
5. Whatever barriers exist to signing up 3g licensing agreements must be knocked down before this company can call itself a wireless leader. Additionally, the licenses must be uniform and safe from MFL claims.
6. Nok, Samsung and Ericy should all have been put to bed before making the announcement. They were not and we must wait until a further announcement can be made.
7. I believe it is premature to be acquiring other companies until the 3g licensing issue is successfully completed. Acquiring a manufacturer of 3g related products is a gamble at this time. Care must be taken not to get ourselves in a cross-licensing position that can reduce royalty revenue which is the highest and best margin revenue source.
So long. I wish all of you success in your investment in this company.
Finally, you big boys that are tired of my posting should know one thing. My ceasing to post does not mean that I am not watching very closely. How about giving the shareholders a business plan with metrics to measure your success over the next 2 years.
MO
loop
AI
