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Technology Stocks : CDRD (CD Radio)
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To: Chang-Shing Perng who wrote (112)6/6/1997 12:17:00 PM
From: Candle stick   of 904
 
Another point worth noting is that up until just this year( couple months ago I think?) there were a total of 3 (that's three) employees of this company.......WHAT? They are 3 guys in a garage somewhere who had an idea and have managed to sucker in money through equity financing.....by the way, those 3 guys salaries are as follows:

CEO.......$200,000
V.P.......$250,000
Exec VP...$225,000

Total.....$675,000 Per year! And NO revenues at all. Everybody who bought stock is just paying salaries to these guys, and very high ones at that. I have owned many many profitable companies and almost none of the officers had salaries like these. I think more reasonable levels for a start-up concept company would be $75-125,000. Where is thier incentive? At 250,000$ per year my incentive would be to keep the party going as long as possible. The only way to do that is by floating more and more stock to gullible investors. Sorry if I sound a bit perturbed at this point but it really ticks me off that people like this can float BS hope stories about the future to Mom and Pop shareholders who hope that maybe someday 10 years down the road they might have a small profit(unlikely), but in the meantime management profits greatly NOW! Its just not right. But I digress, CDRD is already down to 15 7/8 today on its way to $4 in my humble opinion.

P.S. The reason I researched this company was for some elderly friends who got cold called by a broker recommending this dog. They would have lost everything in my opinion if I had not done this homework and told that broker to peddle his garbage elsewhere........;^)
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