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Non-Tech : Cendant Corporation (NYSE:CD)
CD 5.735+28.3%3:59 PM EST
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To: Thomas George Warner who wrote (2188)10/13/1998 8:18:00 PM
From: Benkea  Read Replies (1) of 3627
 
Tom:

"what do you expect Silverman to do, Kill management incentive altogether?

For Mr. Silverman:

1. 33% will be cancelled

2. 33% will be reset to an exercise price 50% about the new price but in no case less than $20 per share

3. 33% will be reset at the new price. "

I have NEVER had a problem with repricing options for management and MOST executives. However, giving Silverscum the repricing is akin to giving Forbes the severance package for his screw up. Both CEOs *ucked up LARGE. No one has proved either did so intentionally. Yet, there is LITTLE DOUBT they were both negligent as hell.

In your reprint of the options repricing scheme, you make NO MENTION of the fact that your post deals with 25.8 mil of Silverscum's 45 mil. What about the other 20 mil?????
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