Erin:
>>> for that matter, can you lame any other executive who looks to their stock options for compansation. They--like all of us stock holders--have probably been waiting for an opportunity to improve their cash flow for a long time, the Dec/Jan opportunity must have <<<
A well managed company bases its compensation on long term contribution to the company. Not to dish out a couple of million dollar bonus EVERY year. The true purpose of stock options is to tie the employee to the company on a LONG TERM basis. A well managed company DOES NOT allow it employees to dump their stock in such amounts that it has significant dilution on the outstanding stock.
It ties the stock options to earnings achievement, I don't see THAT particular test being met.
>>>>>>Casey Cowell was brought over onto the 3Com board of directors after the USR merger. He owned a whopping 4,028,519 shares of 3Com common stock in Aug 20 1998 (according to the proxy statement of that date), that's more<<<<
At 50 that's 200,000,000 dollars. How much did he originally have. What's he doing on the board if he is dumping his stock. Does this sound like a conflict of interest at worse, and at best, STUPID. Would you hire an advisor who is simultaneously selling you short. AND AT EXACTY THE RIGHT TIME???
What is your relationship, if any, with 3com?
And as to Ross, just based on his last sale of 1 Million Shares (?) You give me $50,000,000 and I'll leave 3com.
>>>>is gradually liquidating his (enormous) wealth of 3Com stock as it moves into nicely valued range (as it arguably was in Dec/Jan) then who can blame him for doing so???<<<<
Ok, the next time he gradually liquidates, tell him to give me a call and I will be glad to gradually friggen' liquidate with him.
A couple of hundred million dollars here, and a couple of hundred million dollars there, and pretty soon it begins to add up.
The directors don't own this company, we do.
Duke |
