I should be doing my toxicology homework, but the following is just too precious.
Inco 10 k, 12/31/98
Total shares INCO held be directors and named executive officers, common shares:
1,208,221: % of class; 0.742%
Class VBN shares:
405,207: % of class; 1.5664
Interestingly, Sopko, the CEO holds 248,808 shares (no VBN), Hand, president of INCO holds 360,764 and no VBN and Feiner, VP and general counsel holds 130,157 and no VBN.
So boys, pay your money and takes your chances. You want CMR where mgt and directors own 21% and prosper only if company does; or do you want INCO where mgt and directors own 0.742% and don't give a rat's ass how the company does?
By the way, isn't it interesting that if VB was such a great idea for the stockholders, that the 3 most senior management guys have a sum total of zero shares in VBN?
(Yeah, I thought so too.) All the VBN shares on board are held by Mercaldo, who I think was a Diamond Fields investor.
Next: equity provisions and debt to fund VBN. Stay tuned. |
