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Pastimes : The worst CEO of 1997... Vote Here!
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To: JEFF CHAPMAN who wrote ()11/30/1997 9:35:00 PM
From: jkb  Read Replies (2) of 89
 
Jeff - What a great thread for those who need healing from stocks with faulty management. I nominate SIII's Gary Johnson. Stock has fallen from 22 to 6 - ALL of which is his fault. This used to be a great company - faulty management, lack of PR, lack of direction has resulted in a shortfall with a disgusting set of earnings reports. This particular idiot did not control the companies books - resulting in furtherment of earnings downfalls - thereby resulting in two class-action lawsuits from shareholders against this company. The suits alleges that Mr. Johnson just 'happened' to sell his stock while the company was at recent highs. He sold his stock knowing that earnings and books were misstated - as the lawsuit dictates.

I learned one important lesson from owning this stock - when a company is not willing to talk about their performance, or issues at hand with shareholders - be VERY careful. I have now added a criterion for new purchases in stock - make sure that the company's management does understand the importance/significance of improving shareholder value.

GJ for head prick amongst loser CEO's. I would imagine his career in top management will soon be permanently over - it's a wonder how boneheads are able to achieve CEO status of multi-million dollar companies.

Good luck to all for '98. Hopefully none of us will have to post similar thoughts for 98's version of worst CEO's.
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