THAT'S THE PROBLEM! PG is keeping his hands in his pockets, rather than looking at ways to make the company profitable. The sale to IBM was nothing more than a full employment act for PG and his cronies. He could have easily recevied $12/shr for IFMX, and shareholders would now be holding IBM stock, which hasn't done too badly since it bought IFMX. Instead he took less than 50 cents on the dollar, and is drawing a huge salary trying to sell a product no one really wants -- at least not one from ASCL which may not be around in a year.
The only people who are making money, and I mean a ton of money, are PG and his buddies. If they had sold IFMX outright to IBM, would they have jobs? Would PG be earning $2 million a year? NOT A CHANCE.
Further, the stock he owned at the time he sold to IBM would not have been worth much -- millions, but not the potential tens of millions he will earn from the options he is now getting from the BOD for pennies that are already worth dollars.
It is painful to watch these guys suck ASCL dry at the expense of shareholders. They have no real customers to hurt (most of the real customers are now buying IBM products) and the company's poor employees are stuck working for a management team that will exploit them, lay them off, and use the company's riches for their own financial benefit.
You may think that PG wants to do something good for shareholders. But in reality, PG wants to do good for only himself and his buddies.
I hope I'm wrong, and would love to be proven wrong. But I've seen the scenario before.
<< PG tried to sell the whole co. to IBM but they wouldn't go for it. >>
I would sure love to hear where you heard this. Is this your opinion, or do you really have knowledge the rest of us don't?
I'm an ASCL employee, so I would love to hear more from you on this. This is a new one for me.
Hey IG2001, you say ASCL won't be around in a year, do you know something I'm not aware of either. I'm starting to feel like I've got my head stuck up somewhere, because all of this doom and gloom is news to me.