Fonix:Voice Recognition Product (FONX) Message Board

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Technology Stocks : Fonix:Voice Recognition Product (FONX)

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To: Fairways9 who wrote (1866)	4/26/1998 4:53:00 PM
From: InvestorLady	Read Replies (3) of 3347

Does management deserve to take home, between 3 people, over $1 million of shareholders money a year, plus dilute 5% per year via the board of directors options, just for potential????? Siemens is dipping their toe in, they have NO product coming that we know of that uses fonix technology. Management is run by a diplomat who was sent in to trouble shoot for the Nixon administration. He is an EXPERT PR man. And that is what this company has done, PR'd the heck out of the shareholders with big names...stock value by association. As far as running a tech company, they have been paid large management fees for years, and now add on huge salaries. Tell me where this has been done before in start-up tech companies that was justified? The average salary for a CEO of a company of less than about $20 million in sales is around $115K a year. Check it out, do an executive compensation search on the web. You have 3 amigos making around $300K ea with annual increases near half a mill. Those salaries force funding which means they need to dilute further to pay THEMSELVES. Know what? I don't think they are worth it. Tell me why they are. What have they done for the shareholders to justify their exorbinant salaries? They are nearly 2 years overdue on their promises. The stock has suffered greatly since they have announced these large salary increases. Fine, the company has more "potential". I am suggesting that management should wait it out with the rest of us until that potential becomes reality. Too much to ask? What do you think? I don't think so. I think their greed has greatly hurt the stock. I have seen this before in another company, and the only ones who benefited were management and large shareholders who received shares at a discount. Not the retail shareholder. Management has a fiduciary responsibility to the shareholder, beyond their 51%. It is time they remembered that. Lady

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