Replies to post #207779 on Wave Systems Corp. (fka WAVXQ)

[dig space]

micro, It is difficult to judge effectiveness of management in a poorly established market.

1. Is there a market at all? i.e. is the business plan viable.

2. Are others beating the company? i.e. outselling, outprofitting, controlling market share, developing/deploying superior IP.

One can look at just ROI, but in a poorly established market one has to pay keen attention to whether the market exists, whether that market is going to somebody else, and whether that market is growing, and if it is growing is a company participating in the growth, overepresentaed in that growth or underepresented in that growth.

I.e. who else is pulling in money managing TPMs and SEDs, how much are they pulling in, is that pile of money growing, is the companies share of that pie growing, shrinking, or stable.

A simple ROI provides only a small component of illumination to assess management.

For the record, i have always thought senior management is over-compensated in cash terms, and that over all of the years to much cold hard cash has gone to senior management when viewed in terms of cash flow.

That's just the way it is with this company.