"Benkea, at risk of incurring your wrath,"
I hope no one feels my wrath as if it were personally aimed - it is not intentional.
"But he has accepted responsibility for it "
No, he didn't. Accepting responsibility for it would have as Warren Buffett says, "Eat his own cooking." ala no options changes for HIM.
"Cancelling the ABA deal"
IMO, this was done in a sleazy kind of way using the regulators (fictiously) as an out to screw the ABI shareholders he left hanging for eons!
"and was it necessary to keep the key HFS people in place and attract the personnel needed to run the company."
I don't know many people who have a problem with repricing the rank and file (me included), but if you read this years proxy you will see Silverman was GIVEN 14.5 MILLION options for CONSUMMATION of the merger. At a BARE MINIMUM, he should have been left AS IS. More appropriately, he should have seen those 14.5 TAKEN right back since they were compensation for a job which left his shareholders 70% poorer.
"i expect to make a lot more money from my investment in it."
I, like Henry, no longer own stock in CD, only options. I expect to make money on CD, but I no longer find it investment grade. Investment grade to me requires 100% trust and confidence in management. Maybe someday, I will get that back. Until then, I am solely a short-term options speculator on CD which has been very profitable for me since I first started trading options on it at $12.5. |
