Richard,
To find out how many shares the Hackman owns as well as how many options he has you have to go back and read the 10K's. My recollection is that Mikey has over 5 million total (owned as well as options). I am not exactly sure of this and I despise going through 10ks so you will have to check this out for yourself.
But.....I have been holding back and I will hold back no longer. Hackworth, to the detriment of Cirrus employees and stockholders, has regained his lost status as President/CEO. Granted, this man along with Alexy, Patil, Prakash Agarwal (NeoMagic), Mike Canning, etc, brought this company to the Billion dollar status. Then, because they didn't know what the hell they were doing (all of them) took this company to near ruin.
So, they (the B of D) got smart, hired that asshole Kelly who came in and kicked ass, brought a lot of his own people on board, got rid of not only dead and rotting products, but dead wood (Doug Bartek, Suhas Patil, Sena Reddy, Roger Smith, Kenyon Mei, only to name a few) and brought CRUS back from the brink of destruction to quarter after quarter of solid earnings and a solid turn around.
Now, we are back to the old tired crap that has been spewed before and will be spewed again. Hackworth is a wanabe businessman that is nothing more then a tired engineer. Go back and look at the likes of HP, Varian, even Sun, and you will see that they all reached a certain level, dumped their engineer CEOs and went on to greatness. Now I am not saying that Cirrus is an HP, but I am saying that enough is enough already. This board of directors is showing that they have no huevos and are nothing more than puppets of Hackworth.
My prediction is that CRUS will retain the existing momentum, have a couple of good solid quarters and unless they make changes at the top, will succumb to lack of leadership. Actually, Hackworth's problem is that he micromanages incidental things his managers should be managing and leaves alone the important stuff, ala Doug Bartek and the Graphics division, Kenyon Mei and the Personal Products division, and Sena Reddy and the manufacturing group.
This stock should see some minor rise in price over the next few months. Now, all I am looking for is a quick one or two dollar rise and I'M OUT OF HERE!
May God help us, everyone!
Calvin Scott |
