To: art slott who wrote (3697 ) 5/17/1999 9:56:00 AM From: Mike Fredericks Read Replies (1) | Respond to of 13157
Art- In response to several of your comments. 1) Someone who disagrees with IATV is not necessarily guilty of FUD. I think that you are the Shirley Chisholm to Stagger's Jesse Helms. (Chisholm one of the most liberal politicians this country has ever known, Helms one of the most conservative). Every negative comment he posts, you just write off as "FUD." Maybe at one point you did try to factually refute him, but now it's just become a shouting match. I try to post number or technical information to support myself when arguing my side, I'd ask you to please do the same. Just because the stock price has run up does not make this stock a good stock. Please check the stock chart of ANCR back in 1996. Ran from almost nothing up to 40 in a few days, then dropped back to 22-ish, then had a steady decline down under 2 in 1998. In the middle of ANCR's run up, or when it had dropped from 40 back to the high teens and was still a quintuple from earlier that year, you could have used stock price to argue that ANCR was a good stock. But as the next 3 years of history have shown, it wasn't. 2) You said that people who disagree with the compensation plan have the option to sell. You don't feel like selling. (Thus, I infer, you agree with the compensation plan.) I agree with you but I think you painted things black and white needlessly. Who owns IATV? Samuels? No. The shareholders. A share of stock is not a lottery ticket where everything that happens in the future is totally out of our control. While the insiders and institutions, when added to people who blindly accept managements recommendations, will probably more than exceed 50% of the vote by a large margin, it is still up for a vote. I voted against the option plan but in favor of keeping Samuels on the BOD. I agree with everything this company is doing from a technical standpoint and that's why I continue to stay long. I have two issues with them. First, they aren't releasing the darn rollout date. If it's any time in the next 3-4 months they HAVE to know what it is. Why not tell us? Only reason I can think of is that the date is so shaky that they don't want to release it and then have to push it out and take a big PR hit. If that's not the case, if the date is firm (like it should be) then tell us gosh darn it! It would make a huge difference in terms of the valuation of the stock. Second thing I disagree with is this "pay 2 cents to the directors for every 1 cent the company makes" compensation plan. It's backwards. If you want to pay them a fraction of every penny of profit they make, then that's fine. I'm a shareholder (250 shares, all I can afford) and thus I'm entitled to 250/33,000,000 of the profits. I'm willing to forgo that and not demand a dividend because I think the money should be reinvested in the company. But how can that happen when all the profit (and then some) is going straight into Samuels' pocket? I hope you see that it's possible to be in support of the overwhelming majority of what the company does and not be in support of everything the company does. It's sort of like your friends... you may like most of their personality, but the fact that they chew with their mouth open may drive you batty. Yet you remain friends anyway... -Mike