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Strategies & Market Trends : Value Investing

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To: - with a K who wrote (18342)2/19/2004 11:40:45 AM
From: - with a K  Read Replies (2) of 78507
 
I've had a good run with CD (first position 10/01 at $12.70) and have other ideas so sold my entire position at $22.52) While the fundamentals look good, the chart and other things concern me. I am very uncomfortable with the pay package of CD's CEO and the amount of vitriol on the Yahoo board from supposed CD employees about their executives and their pay packages. Edit: I also can't shake the memory of a conversation I had years ago with a fund manager from Liberty Acorn who said of my CD pick, "Yeah, well they still have Silverman."

Time to move on.

This pushed me to sell today:

WASHINGTON (Dow Jones)--Cendant Corp. (NYSE:CD - News) gave its top executive a bonus of $ 13.79 million in 2003, according to a proxy statement filed with the Securities and Exchange Commission.

He still has about 33.62 million exercisable stock options outstanding, according to the filing. Cendant valued the outstanding options at $287.19 million.
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