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Luxottica Group SpA Message Board

  • iknowretail iknowretail Mar 5, 2004 9:59 PM Flag

    Found it

    For those that want to know the truth.

    What SHI was making at aquisition time.US$79.7 million. About 26mm in profit (No financial hardships)


    Conveinent consulting agreement- It's believed Hauslein has never been back. _______________________________________________

    (d)(3) Consulting, Nondisclosure and Noncompetition Agreement, dated as of February 22, 2001, by and among Luxottica Group S.p.A., Sunglass Hut International, Inc. and James N. Hauslein.

    The five-year Consulting Agreement provides for a fee of $250,000 monthly ( Your Lux $$) commencing at the Effective Time. The Consulting Agreement also provides that Mr. Hauslein may not disclose any Confidential Information (as defined in the Consulting Agreement) relating to the Company that he acquired before or after the date of the Consulting Agreement. In addition, Mr. Hauslein has agreed that for the five (5) year period commencing on the closing date of the Merger, he will not engage in any business activities that compete with Parent or the Company.


    Why don't you review the facts at Edgar SEC filings and match it against those values you all hold on cards Integrity?????

    The employees of SHI got screwed and many were very competent. Lux shareholders got screwed this pay off was it disclosed? Then they ran the business to the ground.

    EG

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • oakleyca2000 and iknowretail are right on the mark. There are signs of significant levels of financial malfeasance during the acquisition of SHI and the shareholders and associates of the company were sold out with all indications pointing to huge payoffs for Hauslein. The SEC absolutely needs to look into these transactions. Hauslien's actions go directly to the root of the SHI problems that now plague LUX. An organization like LUX that believes they can get away with the type of behavior demonstrated during the SHI acquisition now believes they can get away with anything. It is time for the Fed's to get involved.

 
LUX
51.84+1.17(+2.31%)11:01 AMEST

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