Doug2 - good to see you back on the public postings! I don't like the calm rational Doug1, he sounds like a committee of has-been managers. Now you, Doug2, have a little fire - you may be pompous, bigotted and uncaring about your fellow man - but you I can understand.
If you had taken the time to read all my postings, you would have seen that I believe composite materials will only come into everyday use through thermoplastic composites. Only thermoplastic composites offer the option of mass production. Quadrax could still be part of that impending revolution. I bought into Quadrax with that belief. Quadrax could be a great little company with the right management. I firmly do not believe that Jim Palermo is the right manager.
My intent is to see Quadrax Corporation prosper. Your intent is to see that Jim Palermo continues to get the salary and perks he has become accustomed to - at the expense of the shareholders.
If Jim Palermo wants to make a meaningful gesture I would suggest that he gives back his salary and bonuses for 1997. "An honest day's wage for an honest day's work" - QDRX's lack of progress in its core business means that he did not earn anything for 97.
Before you retort about the added value of Victor in 97, Doug2, I would point out that Jim spent $750,000+ to acquire Victor --- practically $1 million that could have been spent on promoting golf shafts and other core products. How much progress would we have seen in the core business if Jim's managers had that $1 million to spend on marketing and tooling? For that matter, what was the effect on the Quadrax managers' morale when Jim took that cash out of their budgets?
JD |
