Hi Bruce,
Hope your weekend is going well. Thanks for the article on ITWO and SEBL. I found the salaries and stock options of Siebel's two top men to be rather disconcerting. Specifically the passage:
Mr. Siebel took home $800,000 last year in salary and bonus and an additional $2,000,000 in stock options. The year before that, he took home $320,000 and $1.4mm in stock options, and the year before that $320,000 and $4mm in stock options. The $7.4mm in stock options Mr. Siebel has granted himself comes directly out of shareholders' pockets, diluting their stake in SEBL.
The co-founder of Siebel Systems, Ms. House, has also been pretty liberal in this regard. Ms. House earned $675,000 last year and $500,000 in options. (97- $310K & $800K, 96 - $282K & $800K) This liberal granting of options and pretty decent pay comes out of the pockets of shareholders.
I am wondering what yours and Merlin's take is on this as it relates to affecting our share prices in Siebel's stock. Personally I like Sanjin Sidhu's way much better.
As always thanks for your thoughts,
Joel |
