It could be argued by some that the partial w/d of their library was more than just an accounting adjustment. Take a look at the recent Forbes article for a discussion on that point. For my part, I'm not familiar w/ the value of content such as what would be in KLOC's library nor all the details of what's contained therein. Just thought I'd throw this into the discussion, though.
I'd like to see a buyback, too. But I have my doubts the co. has the cash to do so, as financing and cash flow has been a problem, one that has caused them to go the equity market so (too?) many times.
Off the subject (a little): a while back, there was some posts here critical of Kushner and Locke taking bigger salaries than some thought fair. At the time, I posted that I thought their salaries were typical of their industry and really didn't matter if the co. continued to be profitable and see that profit grow (obviously, this was not the case in the 4Q).
Anyway, I just received my annual report and proxy package from Price/Costco last week. In looking at the executive compensation, the co.'s Pres. and CEO, Jim Sinegal, has a compensation package that totals only $467,150. It is interesting that the head of a much larger and successful co. like Price/Costco (and who incidentally holds about $45m worth of co. stock) draws a compensation package that only barely exceeds that of Kushner or Locke. |
