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Black Diamond, Inc. Message Board

  • tex7779 tex7779 Jan 7, 2009 8:42 PM Flag

    Well, it has been quite a while but I am back in

    If there are any posters still here from the 2002 proxy battle between Kanders and the former management team, then let me know.

    I bought back in today. Figured with all the buying that Kanders has been doing since last fall, there just might be something coming up soon. He certainly will have good opportunities.

    Now, that Kanders has quite a lot of money tight up in this and the clear fact that said cash is earning less then 0.25% APY, it would seem to me that Kanders would want to finally execute a deal.

    Does anyone remember our proxy battle, whereby many posters on this MB got together and were able to deliver almost a half million shares to Kanders so that he could stop the non-sense of the prior management of burning shareholder cash. My recollection is that we won with just 53% of the votes cast to get Kanders and his pals, Sokolov and Ehrlich on the Clarus BOD. The rest became history.

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    • "so that he could stop the non-sense of the prior management of burning shareholder cash" Interestingly enough, that is exactly what is now happening....burning shareholder cash on excess rent and compensation over and above interest income. IMHO.

      • 2 Replies to starcutspin
      • Star:

        You make a good point about the cash burn, however, it should be kept in mind that when the interest rates were higher, Kanders et al were operating on said interest. Clearly, now is a different story. With all of the money that Kanders has to invest, just ask yourself, why would he want to pour several million $'s over the last six months into Clarus, when there are clearly some very good blue chip alternatives available to him.

        At the risk of defending Kanders, his salary and expenses for himself and the other three or four employees are quite minimimal compared to what his predecessor was burning through.

        The way I see it, Kanders' interest to make himself richer is in line with us, the other shareholders interest. Since 2002 he has sunk several million $'s into Clarus for which he is not earning any dividends. It is to his benefit, as well as to ours, to get the stock pps up.

      • I agree that without any additional information and disclosure this is feeling really bad. I still say that they will get great value and have a great chance for success given the patience they showed. However their reluctance to do a deal and go to work while they drain cash and now gave away the first small NOL is disconcerting. (Thats how I read the timing of the NOK expirations)

 
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