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OmniVision Technologies, Inc. Message Board

  • pere_joseph pere_joseph Dec 14, 2006 7:53 AM Flag

    Stop dilution by management

    I am a longtime investor in OVTI. Years ago I read complaints about the stockcompensation plans that prevented the earnings per share to climb in accordance with the huge free cah flow. At that time the management announced a buy back plan. This compensated slightly the dilution. HOWEVER, a recent report on dilution put OVTI (Thank you Mr Hong!!) on top of the list of dilutive stock compensation plans, up to 45%. This is an outright scandal. We have seem a similar thing with that other Chinese Wang at Computer Associates. If hong would have cared for his shareholders the stock would be between 70 and 100 $ a share. It is time for revolt. In the past years the shorts have benefitted from this scam. Now shareholders (the real big ones) should stand up, vote against the next round of stockoptions and find an alliance with a Hedgefund or suitor to force the management to change. Hope this new topic (very old in fact) will create a development beneficial to the shareholders other than Hong and Friends.

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    • Anybody interested in the article about the dilution. Go to OVTI main page and scroll down to financial blogs and the first article from SeekingAlpha is about the effect of the dilution (further explained in detail by the Motley Fool).

    • Compare Hong's salary with some other CEO's and you will find he is very underpaid. I believe his salary is in the 300,000 range which is nothing compared to others.
      CEO Golden Years: The Top 25 Largest CEO Pensions

      Company Name CEO Name Annual Pension
      Exxon Mobil Corp. Lee R. Raymond $8,187,200
      Pfizer Inc. Henry A. McKinnell $6,518,459
      AT&T Inc. Edward E. Whitacre Jr. $5,494,107
      UnitedHealth Group Inc. William W. McGuire $5,092,000
      Home Depot Inc. Robert L. Nardelli $4,612,500
      IBM Corp. Samuel J. Palmisano $4,550,000
      Colgate-Palmolive Co. Reuben Mark $3,700,000
      Comcast Corp. Brian L. Roberts $3,600,000
      Bank of America Corp. Kenneth D. Lewis $3,486,425
      Union Pacific Corp. Richard K. Davidson $2,700,000
      Exelon Corp. John W. Rowe $2,600,000
      ConocoPhilips James J. Mulva $2,600,000
      Lockheed Martin Corp. Vance D. Coffman $2,591,856
      Robert Half International Inc. Harold M. Messmer $2,555,000
      BellSouth Corp. F. Duane Ackerman $2,512,300
      Anheuser-Busch Companies Inc. Patrick T. Stokes $2,500,000
      Mattel Inc. Robert A. Eckert $2,500,000
      Coca-Cola Co. E. Neville Isdell $2,500,000
      Prudential Financial Inc. Arthur F. Ryan $2,456,000
      FPL Group Inc. Lewis Hay $2,430,134
      Eli Lilly and Co. Sidney Taurel $2,300,000
      General Electric Co. Jeffrey R. Immelt $2,300,000
      Valero Energy Corp. William E. Greehey $2,236,000
      Countrywide Financial Corp. Angelo R. Mozilo $2,171,358
      PepsiCo, Inc. Steven S. Reinemund $2,170,870
      I know these are big companies but still, you can see Hong does not make much.

    • Actually no current employee at OVTI is holding any significant options above the water. Only Hong is making obscene money selling his options exercise at $6.00

      OVTI has one of the most incestuous and sheepish BOD, especially the Compensation Committee. They approved 5 million new option shares without specifiying the exercise price in July.

      OVTI is the only company where only CEO is doing inside sales every week. No other current insiders are selling. Actually no insiders have shares to sell at profit.

    • So are we assuming that it's the option compensation that has held this stock back, not the margins? Or is it just another way to try and bash the stock?

    • Now shareholders (the real big ones) should stand up, vote against the next round of stockoptions...

      Vote as you like,... Hong is COB and CEO... he the King and emperor is naked which makes any proxie votes irrelevant, only the board votes matter.

 
OVTI
27.30+0.29(+1.07%)Jan 23 4:00 PMEST

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