Joe,
I am, of course in agreement with "throw the bums out". Problem is, too large a percentage of the stock is in the board friendly hands of Noorda, Ashton and chums. With the assistance of a couple of agreeable large institutional types they control enough to thwart any shareholder mutiny. No matter how righteous!!!
I wonder if the large block selling (25-50,000 pattern) mentioned here a couple of times could be someone like FMR (Fidelity) bailing. At one time a couple of years ago NOVL was one of the largest holdings in most of their big funds. Haven't looked at that lately. It would be like them to be feeding stock to the market in digestable pieces.
Also, the "no bonus" policy of Marengi is, in my opinion, good news. Immediate boost to bottom line, and a message to the comfortable. It becomes a real incentive to get off your dead ass and make a difference. And making the new policy a quarterly bonus, gives people an immediate reason to get started. Rather than having to wait a year to see results. Very much in our interest! No raises for upper mgt., same deal. If he is behind this, he gets high marks from me. Now certainly they need marketing vision and leadership, but at least he is taking positive steps on an important front.
Sorry for commenting on several issues, but I was in Mazatlan last week and fell behind! Life's a bitch!! Good news is that they have affordable internet capabilities ($20 per month) now, and when I go to Puerto Vallarta next month I may be able to stay up to date while the wife is sunning!
Dwight |
