Hi Tomato, Don't wrinkle that nice red skin over this, because I'm sorry to tell you that this is common practice. A shabby thing to be sure, but just another in the bag of tricks that management has the right to do. This is not unique to the VSE either, and I'll bet if you checked Nasdaq and NYSE, you'll find the same cosy arrangement there also. It's ironic that you should be asking, because Bearcatbob had made a comment on the Mongolia thread a few days ago about the very same thing, and wondered out loud if Mongolia mangement would be re-setting their options. We are lucky over there, because Dave Webb, the president posted on the thread in response to that, that they would not be one of those managements that would reset their options at a lower price.Love that stock and the thread because he answers all the questions, and with a high degree of competence, so that we have time to be silly over there.
Personally, Tomato, I think it is a real rotten thing for any management to do. Effectively what they are saying is, we have an opportunity to reward ourselves with even cheaper options because the price is down. It sounds too much like rewarding yourself for failure.
I don't mean that Winspear is a failure, but it seems to me, when a company takes advantage of a downturn to set themselves up for even greater returns down the road, it is a slap in the face to the shareholders. I guess there is no loyalties in the greed, oops, I mean mining game. We are just boiling on the PFG thread, as well, but for another reason... too many options and P.P's for management without any news released and there is a lot of news to be delivered. Seems to be a universal greed attacking our management in the mining world, aided and abetted by the regulations, which are so heavily weighted in favour of the insiders it's a wonder they don't fall over.
By the way David, my hubby, was a personal injury lawyer for 24 years, and prior to that he did some criminal law. He is now happily retired as he took early retirement. We are both into the market, although I tend to be involved more, and we discuss a lot together, about stocks, posts, the market in general, and people associated with it..and by the way he likes your ditties. He's a Welshman by heritage and loves to sing and also has a great fondness for poetry. He's also a big Shakespeare buff. I noticed on your profile that you say the left coast. Would that be facing south or north?
I would be only to happy to send you my e-mail, Tomato. I'll pull up yours and send it to you. I had my e-mail posted for a long time, but I had to remove it because I became so inundated with e-mails that I had no time for our personal lives. There was, and is, many newcomers to the market who need help, and I set out to try and help as many as I could, but it just became overwhelming. Now I give it out to those that I like to correspond with, and some who seem to strike me right. I also noticed that I started receiving all kinds of junk mail unsolicited. Stuff like, would-be newsletter writers, and people trying to sell you things etc. I really like Tomatoes though.
Cheerio
Shirley O Just noticed you haven't listed yours either, so I can't send you mine unless you can find someone mutually trustworty and then I could send mine to him or her to forward. How about Walt? He seems like a real nice man? Let me know Tomato. |
