Good article , last paragraph speaks volumes of truth about this broken Nation's mirage of Capitalism ......
"Finally, this $90.9 million severance is one more giant black mark against the American system of corporate governance. As long as shareholders don’t have final say on matters as important as officer compensation, our system will remain mired in the cesspool of cronyism that is dividing our country today."
OUCH! That was a painful article to read. Hopefully this is the last "hit" shareholders are gonna have to take. Now watch as crude prices fall to $80/bbl and nat gas goes to $2.......just my "friggin" luck! I'm tempted to buy more as soon as I can "choke-down" what I already have on my plate.
Sentiment: Strong Buy
hounddawg - yes it was , rubbing salt in our wounds , and just another "common shareholders get F'd" story ...... I've heard too many of those ..... Corporations , and Banksters have run amuck and get away with murder ..... Too many BK's , and the commons get killed , but everyone else just gets paid as if they had created the next Exxon .... old money gets destroyed , fresh suckers come in .... Our laws , rules , and so-called "ethics" , are a load of bull ...... I guess they call us "common" for a reason ....... Who in the world should not be punished instead of rewarded for running a company in the dirt ???? and they say "we have to compensate CEO's so we can get the best talent" .... "BEST TALENT" ??????? HUH ????????? WHERE , is this "best talent" ?????? If I fail at my job , I am hardly considered "talented" ..... HOW can this system ever work without consequences for FAILURE ?????? This is nuts , and that article is right on ..... especially that last paragraph
This is DAY 2 of the GREAT TPG take over, The market was up the last time i looked. TPG's Sandridge is down again. Where was the PPS when YOU sent your Green card in..... That enuff said????.......Just Sayin
gman - what where when how who , doesn't matter , what matters is the shorting tutes aren't finished , and they can and will push , manipulate , scheme and scam , SD back to the low 4's , and they will cover ....... The May correction is here now , "Greece" is back in the news , big boys are taking profits from their massively pumped DOW darlings , and they are going to vacation for a couple of months ...... 2 months of shake-out pretty much everywhere is my very humble prediction ..... 2nd half , stocks run again , when Bernanke says , in September meeting , "Ah shucks , we were just kidding , we'll print until 2014 , and then we'll review where we stand" ..... you know the drill
Its hard to believe that an aggressive firm like TPG and other large investors would let this happen without some sort of fight! This seems to be a plot to avoid letting the other seats on the board go to TPG.
Cooperman, Watsa, TPG and the rest have to know more than we do as they have millions of shares compared to my few thousand but I am scratching my head at how his settlement could happen and Tom is laughing all the way to the bank flipping the bird to shareholders along the way.
Wouldn't poor stock performance be enough to fire with cause?
Great article in Forbes by the way!
I don't quite understand this. Why are they not pushing the stock higher? Dinakar stated on CNBC the stock is worth $12 to $15 in value. Cooperman said at least $10. I know it's only been 2 days and I didn't expect the price to run crazy higher....but I never thought we'd be continuing the slide down, my gosh we are almost near 52 week lows. I realize market conditions are awful and that has some bearing....but I never thought investors would not be interested enough in buying that we couldn't at least hold $5. Regardless of what the market is doing.