RE: EMC CEO Joe Tucci in January received 75,000 options to buy EMC stock at an exercise price of 1 cent per share. Critics argue such awards have no downside for executives."
FWIW, Bob, I agree with you. The same thing happened on another stock I own, and I spoke with IR about it (both on the phone and in email), saying that the CEO should have real money tied into the company, not this penny crap. I said that if they had a CEO who "wouldn't work" if they didn't get these sweetheart deals (I've heard some lawyers, accountants and, of course, CEOs justify these outrageous deals with that line before), then they should just let him walk, he probably wasn't working anyway. They claimed they would pass it on. That particular company was doing even worse than EMC, a year or so later, the CEO was canned. Though I doubt that my email had much to do with it. |
