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Technology Stocks : FORE Inc.
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To: Riskmgmt who wrote (12421)5/18/1999 11:29:00 AM
From: Trevor Goodchild  Read Replies (4) of 12559
 
Ray,
The option grants imply a serious conflict of interest was present. However, grants need to be approved by a compensation board so perhaps it was the added incentive the board wanted to give management to speed up a sale. I could care less how much management made in this windfall. I do care however, if their objectivity was swayed because of the structure of newly added compensation, which begged for a cash deal. Since the options were basically a "payoff" from GEC, its hard not to assume they took the best deal for themselves. The bottom line is that the wrong incentives were in play and the deal has a cloud over it.

$35 cash is always better than $35 in another company's shares, however, we will never know what the real "market" was for FORE.
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