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Strategies & Market Trends : Value Investing
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To: peter51 who wrote (9559)1/7/2000 9:14:00 PM
From: Grommit  Read Replies (1) of 78666
 
BKE has been on my watch list for awhile.

I never pulled the trigger for a reason which may be irrational to some. I do not approve of the compensation plan. To rich. I think I get burned more frequently by greedy executives than by non greedy. plus I do not approve of the ethics.

And perhaps fraught with a problem. If they improve profit over the preceding year they get a huge increase. But even decreases get a bonus. For example, a 20% decrease in pre bonus income earnes a 75% of base salary bonus. You grow income by 20%, you get 200%. Ugly. Excessive. Not for me. And might someone manipulate the numbers to maximize their income by fluctuating net income? 50% increase gets 360% of base salary. hmmmm. I see motivation to hold back or take a profit hit in year one and zoom profits in year 2.

Regardless of the manipulation (pure speculation) I think it is excessive and will not buy it.
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