Hey Beans -- if you talk to Bob Spear, could you ask him if the following post, which appeared on Yahoo 7/25, is accurate? (Or maybe you already know...)
"If I read the proxy correctly, Mr. Rubin gets paid "5% of adjusted earnings from continuing operations." I don't know a lot about small company CEO compensation packages, but that sounds unusually sweet to me ($1,850,000 for fiscal 99). Plus he gets stock options (I think 1,000,000 shares per year, distributed quarterly), and he's a partner in the partnership that owns HELE's El Paso warehouse and gets rent from that."
Also, this --
"Board of directors. There are 7 directors, all up for election. One is Rubin, one is Rubin's wife, and one is Rubin's brother. The fourth is Gardner (President & COO). The others all look like light-weights, none of them being in any consumer product area. So it sure gives a strong appearance that the board is not taking independent oversight over management. Even more troubling, one director, Mr. Montano, a guy in the securities business, was fined over $100,000 by the NASD and suspended for two years, then was later suspended indefinitely for failing to pay an arbitration award. Why would Mr. Rubin be putting a guy like that on the Board of HELE if he wants to create credibility on Wall Street? Mr. Rubin must have some reason, and I'm afraid of what that real reason might be."
Thanks --- Steve |
