"Revised" contract with Horowitz reveals "true stripes" of Scheriff and Franklin.
This is appalling and reprehensible. Horowitz has specified financials needs, because his "high living" demands massive amounts of cash. (He lives in one of the 10 most expensive zip codes in the U.S.) As indicated in the earnings conference call, the company didn't hit the originally anticipated level of income (or other measures) to trigger the bonus Horowitz was (apparently) originally anticipating. so what do these sleazebags do? They have the audacity to REVISE his contract to adjust THIS YEAR'S potential earnings, to MAKE UP for what Horowitz didn't earn last year,
This proves, HANDS DOWN, that Kenneth Scheriff and Jeffrey Franklin, the comp committee members, are CORRUPT FIGURES, and their exclusive INTENTION of being on the P&F board, and on the P&F comp committee (which is a scam entity), is to DO HOROWITZ'S BIDDING, to feather his nest, and to be rank SCHILLS, serving at and for the pleasure of Horowitz.
This company's "governance" will always be corrupt, because Horowitz himself is corrupt, and only interested in USING the outside shareholders' capital, to maximize his own personal gain. And a majority of the board members, 4 out of 6, are serving on the board, exclusively, to please Horowitz, and gratify him, and satisfy him. Brazenly and shamelessly. Why is true? Because the company's ROE, at under 10%, in no way justifies the CEO and CFO, combined, taking out an amount equal to roughly 50% of this company's reported income before taxes, for themselves.
Horowitz's pay remains utterly licentious, egregious, despicable, morallly larcenous, and is a defacto representation that P&F is NOT operated as a bonafide public company with a bonafide board. Scheriff, Franklin, and Solomon are in Horowitz's pocket.