Replies to post #242315 on InterDigital Inc (IDCC)

[olddog967]

Habu: Although Harry's involvement with IDCC started way before my time, I had previously looked into it when reviewing his option grants. In regard to your statement that " Harry came into the company when it was basically upside down after it was defeated by Motorola." your timing is a little off. Harry was appointed as a director in April 1994, shortly before he loaned the company $112,500 in May 1994. At that time the Motorola litigation which started in October 1993, was still ongoing. A decision was not reached in the case until March 1995.

In regard to Harry's loans to the company. They were made in connection with a $251,250 loan from Burns family members. I don't know how much risk there was as they were short term loans, with Harry's being repaid in approximately 5 months and the Burn' loan in six months. Here is the detail as set out in the 1995 proxy statement.

"In connection with the private placement of Short Term Convertible Notes of
the Company in May 1994 (the 'Notes') Messrs. David A. Burns, Michael W. Burns
and Jeffrey S. Burns, sons of William Burns, loaned the Company an aggregate
amount of $251,250 and Mr. Campagna loaned the Company $112,500. The Notes bore interest at a rate of 11%, and as additional inducement for the lenders to advance the loans, the Company issued warrants to the lenders to purchase shares of Common Stock. Mr. Campagna waived all payment of interest on his Notes and received warrants to purchase 15,000 shares of Common Stock at a per share
exercise price of $2.50. David, Michael and Jeffrey Burns were issued warrants
to purchase an aggregate of 33,500 shares of Common Stock at a per share
exercise price of $3.75. The Notes issued to the Burns were repaid in full on
November 3, 1994 with interest, and the Note issued to Mr. Campagna was repaid in full on October 7, 1994. Although, under the terms of the Notes, the holders had the right to demand a late charge of 5% of the amount due, neither the Burns nor Mr. Campagna made such a demand."

[nicmar]

That would be Mark Gercenstein. I thought he was going to be the next coming as he was highly touted. About all I remember is at least he did purchase a few shares with his own money which seems to be rare these days with idcc.

Don't know who hired him, why he left or if he was fired although it was sudden and unexpected. I remember the share price collapsed dramatically on the announcement of his leaving. You might want to expand on that or someone probably has some knowlege of the problem interdigital may have had with him. .. mo. .. nic

"only one CEO that we had has pizzed me off. Greckenstien. He could not keep his head down when the bush wacker was clearing the land."

[wilco244]

Greckenstien. He could not keep his head down when the bush wacker was clearing the land. He was short lived and I was very happy with that.

I never understood why he lasted just 6 or so months. Exactly what was his error that caused IDCC to change him out so quickly? TIA

Z

[Desert dweller]

What a joke that Harry put his own money into the company. Sure he did put in some money as a loan and was repaid all of it in months. How many on this board have put up a lot more than Harry did and for far longer, measuring in the decades? To my knowledge, Harry never bought a single share in the open market. He took over a million shares through excessive option grants for a part time job during the hey day of printing stock certificates that we then bought back for probably over $20 million for his shares alone to get our float back down. For a part time job he was compensated what amounts to well over a million per year. Harry has exercised and sold boatloads of shares and received millions upon millions while many on this board continue to wait. Harry sure doesn't need anyone defending him, especially with misinformation as to what he did with his money when he came on board. What a gig if you can get it.

Message In Reply To:
I appreciate your retraction. Harry is well compensated, and by golly, I will be too. Harry came into the company when it was basically upside down after it was defeated by Motorola. That defeat was due to a couple of circumstances.

Lawyers for IDCC where not up front on a few facts and most of all, Motorola pulled the apple pie off the window sill and was able to portray IDCC as a foreign company attempting to take $$ away from an American company. no matter that IDCC was an American company, the technology they were supporting was used mainly across the pond.

Harry came in to a company that was just beaten down and had no money and, more importantly, had tarnished credibility. He gave money from his pocket and put it at risk because he saw something good, or he saw an opportunity to jump into a situation where the company was distressed and he could make a buck.

Amazingly, that is why I jumped in when I did. I saw a company that had an incredible product and story that, like Harry, I thought it would not be long before I will capitalize on my investment. I took advantage of the fact that the share price was in the throne. I bot from $23 down to under $5 and have an average of around $7.

we all got into IDCC to make a buck. Some of us took fliers on Options, some on margin, some went short and some got hosed. It all depends on how you, me, or Harry choose to get to that gold ring. I chose to buy and hold, painful as it has been, I have only freaked once and sold some only to buy back with a few more than I sold, but while I was out, greed was in control and I could not live knowing or thinking that I would miss the "big one", because I know IDCC would have the big one, just as I believe Harry believes.

only one CEO that we had has pizzed me off. Greckenstien. He could not keep his head down when the bush wacker was clearing the land. He was short lived and I was very happy with that.

Howard was perfect to take his place. Howard was guarded at a time we needed to keep our heads down. He governed over a very tough time for the company. he kept the coffers as full as he could and tried not to cause trouble for the big boys. he made some mistakes and at a point in time when we needed to stick our head up and announce that we are still alive, he could not do it. His style of driving behind the wide load at 45 MPH for miles had served us well and had come to an end.

Enter William. He had the fur to stick our head up and proclaim here we are and we deserve our money. He was the right person to have at the helm at that time.

Harry made all these decisions.

Thank you Harry