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Technology Stocks : Hoover's Inc (HOOV)
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To: Elroy who wrote (800)9/25/2001 4:53:15 PM
From: A.L. Reagan  Read Replies (1) of 848
 
How can a severance charge related to changes in executive management be a non-cash charge?

It's kind of like making an acquisition that is accretive... to revenues. Who can forget that one?

From what I understand the new guy is battening down the hatches and focusing on the core business rather than grandiose plans... something that suits me as a shareholder, although I think some headcount is going away not entirely of its own volition.

Even if he is a pal, it is fairly annoying to end up paying a big whack of cash to an ex-CEO who was amply compensated for many years of arguably underpaid hard work with abundant stock options that ended up deep underwater on his watch, a primary reason for which IMO was overstretching. This is typical corporate America I suppose, the big option grants don't pan out, so we find another way to redirect shareholder equity in lieu.
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