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Technology Stocks : Orbital Engine (OE)
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To: Aubrey B. Calvin who wrote (4536)10/19/2000 2:41:01 PM
From: John M Connolly  Read Replies (1) of 4908
 
Aubrey: Of course you are correct when you state that employees are entitled to do as they wish with their options. Poverty in this case I doubt can be a justification as Schlunke is a $436K guy and Johnsen is at $220K. That is not the point. Schlunke has been with OE for over two decades and he owns the equivalent of 2,616 ADR's. The company has never in its history made a profit.
The company has good revenues about $50M - yet it looses an additional $10M. It is not an unreasonable question to ask, if top management has the bottom line as a priority. It is a hope of many shareholders that when OE becomes profitable there will be an appreciation in share value. However with the low shareholdings of all the directors except one, the question of shareholder value and priority of bottom line profit is real. I invested in OE not because I thought that OCP would save the world and give us cleaner air, I invested in OE because I thought that they could make a profit selling OCP. Management who are the engineers who invented OCP are likely more tied up in the technical aspects of OCP rather than making a profit for shareholders as quickly as otherwise may be the case. The solution would be to give all the directors shares for their services with a two year lock and the employee directors likewise for their options. In fairness, only minor funds were paid out in bonuses. I would like to see all the employees make big bonuses IF they produce the profits.
This is likely the make or break year for Orbital -lets keep our fingers crossed that they can pull it off. Apparently, Peugeot had a motor cycle with OCP at the Munich show as per the annual report. There has been no press release from OE and I have emailed them to ask if the bike was shown and why no PR.
John
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