Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: nickel61 who wrote (2257)	3/31/2002 4:56:05 PM
From: Tommaso	Read Replies (2) of 3558

Since gold and silver companies show losses almost as chronically as do airlines, might it be fair to say that the management operates the companies mainly for the benefit of the management, and that stockholders tolerate a permanent state of unprofitability because the shareholders are willing to gamble on the companies as a proxy for gold itself? That is, the expectations of shareholders of most companies (and I exclude the insanity of the dot.com and tech manias of recent years) that a company is in business to show a profit and not just to continue in existence as a corporate entity, the way educational institutions do. But precious metals mining companies, never seem to enjoy anything approaching steady, normal profitability. I was just looking at the enormous salaries that top management at NEM pays themselves. Can't seem to find anything for Barrick right off. Am trying to recall the name of that company that was a pure ego trip for its president, and which he arranged to keep paying his full salary to his widow as long as she lived. It was a good fraction of the total receipts of the company, paid to someone who made no contribution whatever to the company.

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