As a Corel shareholder, I obviously want this thing to turn out as well as possible for us. It is pretty clear that from that standpoint, the best scenario is that the commission fail to prove its case against Mr. Cowpland. Immediately thereafter, the stock would rally strongly.
But in reading that article, I couldn't help but get a certain interpretation which does not lead me to believe the above will necessarily happen. The following is how I read specific quotations in that article:
"Knowing Mike, he wouldn't have done anything maliciously," said Eid Eid, a former Corel executive and president of Corel's former hardware subsidiary, Corel Computer Corp.
My interpretation: he did it, but not maliciously (what a nice fellow).
"The only thing that I can tell you publicly is that the commission talked to me extensively, too. I told them my opinion as a senior executive," said Mr. Eid...
Translation: I had to tell them the truth (not good for Mr. Cowpland).
"But to be honest with you, Mike will get out of it OK," said Mr. Eid.
"He will live through it."
Translation: he'll take his punishment and come back to fight another day. In the meantime, though, our stock would take a pummelling.
From a purely selfish point of view, I hope that I am wrong. But that is how I read it.
Still anticipating brighter days,
M.K. |
