Trash? Garbage? An interesting choice of words there, my friend. They provoke deep introspection on my part. So that every one can see the facts in question:
Name: HOLLOWAY J L
Title: Chairman of the Board, President, Chief Executive Officer, Director, 10% Owner
Company: Friede Goldman International Inc
Shares Remaining: 7,349,577 Common as of 1-Feb-99
7,999,577(indirect) Common as of 9-Dec-98
Transaction History
Date Action Broker Shares Type Price Value
1-Feb-99 Disposed (Z) - 650,000 Common - -
9-Dec-98 Disposed (J) - 1,920,500 (i) Common - -
9-Dec-98 Acquired (J) - 1,920,500 Common - -
4-Dec-98 Bought (P) - 100 Common 12.27 $1,227
You will note with great benefit, I think, that Mr. Holloway owns 10% of the the company. While your confidence is entirely your concern, any one who owns ten percent of any company is demonstrating TREMENDOUS confidence in that companies ongoing prospects. Now, if you were to inform us that Mr. Holloway disposed of from 50 to 100% of his holdings and did so recently, I would share your concern. Just what percentage of the company should Mr. Holloway own that would satisfy your very high standards for confidence?
Wrt the "disposals": What you neglected to mention in the text of your post, was that the $1,920,500 that were disposed of on Dec. 8 98 were also acquired in the same amount on the same day. This indicates to me a option related exercise and disposition and MAY be related to his overall compensation package. That a man (still retaining a full 7,349,577 shares) after a long and illustrious career wishes to enjoy the fruits of his labor does not affect my confidence one whit. BTW do you own over 7 million shares of the company you work for? If not, why on earth do you work for them?
Wrt. Mr. Crawford. It is common practice for people leaving a company (in industries all over America) to dispose of their holdings in said company and says nothing whatsoever about the quality of that company. In fact, sometimes they are required to if they take a job with a competing firm. Imo the insider selling here is the very weakest of your arguments. JMVVHO
Wrt "trash" and "garbage". This country boy likes to take out ALL his trash on "garbage day" not just a few empty pepsi cans. What do city boys do? |
