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Technology Stocks : Siebel Systems (SEBL) - strong buy?
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To: BirdDog who wrote (5883)6/24/2002 7:24:05 PM
From: Mike  Read Replies (2) of 6974
 
BirdDog,

All of Tom Siebel's shares have a strike price < $1.00. He sets his own strike price rather than taking the current market price that he gives to other employees. In fact, he was granted millions more shares this year for < $1.00. He controls the board along with others like Charles Schwab who serve on several boards together. They each are reaping huge profits from SEBL and are granted options for pennies.

I am bearish on Siebel because the upper management is more interested in dumping shares that building shareholder value. For example, Pat House, has left the day to day operations. If I'm not mistaken she only serves as a board member now.

Even at todays prices, the PE is 29. I'm not saying that Siebel is going out of business or anything that drastic, but it's simply not a good stock to be in until revenues increase a great deal. This will ultimate drive shareholder value (if tom doesn't destroy it first).

Mike
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