eMachines (Nasdaq: EEEE) going public! Message Board

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Technology Stocks : eMachines (Nasdaq: EEEE) going public!

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To: Sir Auric Goldfinger who wrote (48)	3/16/2001 8:06:11 AM
From: RockyBalboa	of 122

EMachines CEO Cashes In Despite Loss LOS ANGELES (AP) - Computer vendor EMachines lost $129 million last quarter, but that won't stop its new chief executive from reaping $3 million this year in pay and other benefits. Revenue for the Irvine-based company dropped 56 percent in the quarter, and its stock has not traded above $1 for several months. The Nasdaq stock market has also indicated that EMachines could be removed from its listings if the numbers do not improve. Despite the problems, the company agreed to pay Wayne R. Inouye $3 million this year. In addition it will provide a $1.6 million severance package to former chief executive Stephen A. Dukker, who departed for unspecified reasons. The numbers were disclosed in documents filed with the Securities and Exchange Commission (news - web sites). Inouye became EMachines' president and CEO on March 5 and will receive a $2.36 million signing bonus within a month, along with an annual salary of $480,000 and 4 million stock options. Another bonus of $1 million will be offered to him after two years, at which point Inouye has agreed to leave the post and serve as an adviser. EMachines officials declined to comment, but the pay scale was thought to reflect soaring demand for top executives during a dire time for the tech industry.

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