Mr. Matthews will also become very well-off, the conference center and hotel will be operated by his holding company, which means that Newbridge will pay him. If you look at last year's (1997) annual report, you will notice that Newbridge Networks paid nearly $3,200,000 for various leases to companies controlled by Mr. Matthews. In addition, in 1996, Newbridge purchased a facility for $5,244,000, and the facility was owned by a company controlled by Mr. Matthews. Mr. Mattews's salary as the head of Newbridge was a mere $175,790.
Yes, he is shrewd. How many more UB speculations is Mr. Matthews going to impose on shareholders? No matter what happens to the price of the stock, Mr. Matthews and his holding company's will receive at least $3,200,000 annually through 2001. As I asked in an earlier thread, who's minding the store? |
