Some great posts on the fearless leader MZ
I posed this 10/12
messages.yahoo.com
1998 Compensation
$154,000
1998 Bonus
$144,000 (for what?????)
Total CASH: $298,000
Stock Options graned by the generous Board of Directors in 1998: 250,000 (lets say $2.5 Million at $10 per WSTL share)
Stock Performance 1998:
Dec 31, 1997: $12.75
Dec 31, 1998: $4.875
Return in 1998: -62%
NOW that is SHAREHOLDER VALUE! WHAT A CONTRIBUTION! Give him more OPTIONS! He deserves it! Lets look at 1999!
1999 Compensation
$233,654 (a 51% RAISE For -62% stock performance, what a crock!!!)
1998 Bonus
$298,080
Total CASH: $531,754
Stock Options graned by the generous Board of Directors in 1999: 290,000 (this takes a lot of smarts to be given these shares!) (lets say $2.9 Million at $10 per WSTL share)
Stock Performance 1999:
Dec 31, 1998: $4.875
Dec 31, 1999: $10.75
Return in 1998: +120%
2 year return from MZ leadership
Dec 31, 1997: $12.75
Dec 31, 1999: $10.75
Return in 2 years: -15.7%
So it took him 1 full year (all of 1999) to get back ALMOST all the shareholder value he lost the previous year.
Give him more OPTIONS! He deserves it. He got a 50% raise and a 50% increase in bonus for that????
Lets look at 2000!!
2000 Compensation
$244,038
2000 Bonus
$298,080
Total CASH: $542,118 (well he settled in for only half a million 2 years in a row)
Stock Options graned by the generous Board of Directors in 1999: 500,000 (he was given more than 210,000 more than the previous year. For what? Where is the "smart" in this!) (let's say $5M at $10 per WSTL share)
Stock Performance 2000:
Dec 31, 1999: $10.75
Today: $9.75
Return in 2000: -9%
Nearly 3 year return from MZ leadership
Dec 31, 1997: $12.75
Today: $9.75
Return in nearly 3 years: -23.5
Capnt_Smartjack until that last insightful post I thought you were NOT influenced by your affiliation but that commentary about him being smart is a joke. Any shareholder should be outraged at this sort of compensation for this performance. What goes on at these board meetings? kissfests?
P.S. You are right Captn, if you had just bought and held WESTELL you would definately not be retired - how can any long term investor be making money here from a buy and hold strategy? Oh wait, let the BOARD give me half a million in salary and $2.5 to $5M worth of options a year.. thats how to make money.. off the suckers in retail. What a crock. And you call this "smart"; I'd call it "genius" on Mark's end because no one is calling him on it, and all he has to do is kiss a Simon and a Penny a day. The more I dig, the more I laugh. What a company./ |
