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As the stock is downgraded this morning and, currently it is trading at 29 3/8, down 1 5/8, I would like to make some comments. First of all, while TM does own a lot of the company, he does not own the company. Also, over time, the compensation that is paid him via his privately held company will rise given his hotel/golf complex expansion plans. As I had previously stated, Newbridge paid him(his privately held company) $3,200,000 in NN's 1997 calendar year. In NN's 1996 calendar year, his company was paid $1,650,000. To me, TM's property development activities are a "Big friggin deal." At what point does his focus of attention shift from NN to his property development? What TM does with his stock is his own business, I don't care. I'm very concerned that the bulk of his compensation has no direct link to his performance as CEO of NN. This is a "Big friggin deal." |
