Applied Materials No-Politics Thread (AMAT) Message Board

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Technology Stocks : Applied Materials No-Politics Thread (AMAT)

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Nov 28 9:30 AM EST

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To: Donald Wennerstrom who wrote (2124)	8/6/2002 10:23:06 PM
From: Sarmad Y. Hermiz	Read Replies (1) of 25522

Yes I do have strong feelings re options. A few years ago I had a thousand shares of Conner Peripherals at 20/sh. The went down to 12. The CEO's options were re-priced from 24 to 8, or something like that, on the reasoning that he had been promised a $500k compensation, and the options were the means of delivering it. I felt that was theft. Seagate finally put that company out of its misery with a buyout. What I found more unbelievable is that Finis Conner was again able to attract $100m in VC idiot money to start another disk drive company which went bankrupt. I can tell you that I was very pleased that his investors lost every penny of their gamble on that man. I would have been more pleased if he had gone to jail, but that was before the current era of officer responsibility. Sarmad

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