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RAIT Financial Trust Message Board

  • ethison ethison May 2, 2013 6:17 PM Flag

    Scott sets new targets

    RAS now says they have 180 million in deals that they are working to close before 6/30. Last quarter Scott was off of his own projection by over 33%. If he is off by a significant amount again he will lose all credibility.
    You set your own must meet those goals or you are a loser. RAS is doing many things right. Most numbers are headed in the right general direction. When you are heading a public company you can not miss by 33%..............
    Much of the remainder of RAS is on autopilot. The owned RE is run by Jupiter. The existing securitizations are at this point largely static pools of assets and liabilities. The one thing to look forward to, and the big thrust according to management is the new origination business. Some loans will be for selling, some for holding in portfolio. We can't hold Scott accountable if Tabernas doesn't pay back as fast as we would hope. We can't hold him accountable if an old loans begins to sour.

    We can hold him accountable for the origination business.This is the one thing the company must get right!!!!!!!!!!

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    • "you must meet those goals or you are a loser." Indeed I know!

    • I think Scott has done a remarkable job in the past couple of years and this has been reflected in the share price. One thing that caught my attention was that each year his salary can be evaluated for a raise but can NOT be lowered. WHAT????? Does that seem right?

      I wish I had such a guarantee in my position! This is exactly what is wrong with "corporate boards" these days. This takes away all "pay for performance." It's NUTS as Jim Cramer would say!

      Now, don't misunderstand me, I don't see any reason to lower the man's salary, but what happens if this thing faceplants for whatever reason? And, What if it includes a reason was caused by Scott, well...

      I'm very long on this thing (partially because I've had to be) and am glad I loaded up at $1.06 pre-split. Those shares are performing quite well these days!

      Sentiment: Buy

      • 1 Reply to ekiernan2003
      • I'm doing well too. It would be very common for the board to give Scott a contract, which is no different than his salary never being lowered............He and the team have done a remarkable job to turn RAS around. But the company is in a different environment than it was 2 or 3 years ago when they were holding the sword of Dameclese over the head of the recourse debt holder in an effort to get them to settle for taking cheap stock as payment. They need to be honest with the shareholders about what is doable and what is the dream or ideal. There will be a price to be paid if he is wrong to often...............

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