Novacare (NOV) breaking out... Message Board

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Biotech / Medical : Novacare (NOV) breaking out...

NOV 15.37

-5.4%

12:47 PM EST

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To: Jim Oravetz who wrote (404)	8/19/1999 10:40:00 PM
From: Jim Oravetz	Read Replies (1) of 420

<Splitting up is hard to do, but whether it works is open to debate.> Read thru most of the proxy regarding the sales and re-org of what was once a profitable company. Pretty sad. I guess the leveraged approach to growth is proving fatal since the BBA passed. One clause of the doc. that bothers me is the statement that, at the sole discretion of the BOD, they are free to given monetary compensation to present and past mangnt for "hard work" towards this end (and very ugly) result. This really smells to me. Mangnt got the company in trouble by playing the leverage odds and they got hammered. Now, the shareholders are expected to write blank checks to the people who created the monster. Fat chance! Jim

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