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Technology Stocks : Covad Communications - COVD
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To: Andre Williamson who wrote (10459)5/8/2007 8:40:42 PM
From: ead10  Read Replies (1) of 10485
 
Yes, I listened to all the presentation today and I've come to the conclusion I'd jumped the gun. The bit about $6.8 million paid out to almost 1,000 employees comes from a reply I got from IR. I'm pissed that they took this out of first quarter earnings. I feel that had they not then the earnings would have come in a lot closer to what they guided us to expect. It was mostly that bad earnings surprise that caused the PPS to drop so dramatically and I think it was a transfer of our money into their pockets. I also feel that had they deducted much at all from 4q06 then they would have had to adjust the bonus scale even more to get their bonuses, or not get them at all. Really feel that this is a clear case of corporate greed or stupidity. CH made about $1.3 million total last year, give me a break! And got a $60,000 raise this year. (okay 30, but his bonus is 100% you and I both know he'll get it.) That doesn't count options.

My original point about better earnings just meant that not showing a big hit against earnings would of necessity cause there to be better earnings, right? And there is still 17 million of the ELNK money for LPV hook ups. Justin said today that while the VoIP setups cost about $6,500 that was just the truck roll and equipment. He figured there was about another $3,500 in getting the contract, for a total of about $10,000. He also said this customer brought in $1,800/month so we can do the math.

Ed
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