The Def 14a is out announcing the date and venue of the annual meeting. That means when you get you proxies it's time to JUST SAY NO to the six nominees for the board of directors. All the nominees are associates and underlings of Mr. Berman. So if you don't want a board that's a rubber stamp for Mr. Berman's questionable wheeling and dealing this is you opportunity to try and vote them down.
I wonder what the institutions feel about this. Maybe we should give them a call and ask. Of course after January 7th it's hard to say whose holding what but the institutions should be beginning their quarterly filing as of today. Of course they have 45 days to file but some to file fairly promptly.
Here's the option compensation listed in the 14a. lets not forget that at GND after the shareprice fell from the 30s to 11, Berman had the strike price of managements options lowered from the 30s to $11 as well. That doesn't mean he will do that here but it doesn't mean he wont either. And where is that Pres RAIN has been looking for close to a year now. Could it be that no viable candidate wants to deal with a board that's in Beramn's hip pocket. Just a thought.
ENSATION TABLE
LONG-TERM
COMPENSATION
ANNUAL COMPENSATION ------------
---------------------------------- SECURITIES
FISCAL SALARY OTHER ANNUAL UNDERLYING
NAME AND PRINCIPAL POSITION YEAR $ COMPENSATION $ OPTIONS(1)
--------------------------- ------ ------ -------------- ----------
Lyle Berman... 1997 $ 0 $ 0 450,000
1996 0 0 0
1995 0 0 0
Steven W. Schussler.. 1997 149,231 26,877 112,500
1996 129,231 28,000 0
1995 110,769 22,514 112,500
Ercu Ucan.......... 1997 149,231 27,068 112,500
1996 129,231 28,000 0
1995 115,000 23,000 112,500
Gregory C. Carey(2). 1997 142,500 54,737(3) 75,000
1996 109,116 19,106 30,000
1995 94,458 0 90,000
Mark S. Robinow(4). 1997 125,846 22,572 60,000
1996 113,692 23,600 0
1995 6,346 4,231 135,000
Regards,
Dennis |
