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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: Spots who wrote (12228)	4/8/1999 4:04:00 AM
From: appro	Read Replies (1) \| Respond to of 12298

APM makes headline news. >>Firms lower bar on executive pay Companies assure bonuses for CEOs despite earnings By Joann S. Lublin THE WALL STREET JOURNAL msnbc.com April 8 — Talk about lowering the bar. In February 1998, Applied Magnetics Corp. tried to revive 300,000 worthless stock options owned by Chief Executive Craig D. Crisman by slashing their exercise prices. The strategy failed when the stock price fell even below the new exercise price. As its share price sank further last fall, the maker of disk-drive parts drastically cut the exercise price again — and repriced an additional 400,000 of Mr. Crisman's options for the first time...<< Spots, you say >>If I had 'em, I'd dump 'em.<<. The insiders are heeding your sage advice by selling out for $4/share. biz.yahoo.com Like you, I hold no position in APM. I come not to praise this little hapmster road kill which is projected to lose $8.70/share in FYs ending 9/99 and 9/00 but to fondly remember the good ol' days before. It is also a lesson not to be forgotten as Marty said, "When it's time to bail, don't be a snail." Unless of course you can get gobs of cheap options.