PG is putting another one over on investors. This new guy is another PG croney that will protect PG's job, while getter paid handsomely as a Director. This is yet another rip-off of investors. What is Nichols University? Isn't it a degree mill? At least Santa Clara University is a well respected, "accredited" university.
PG is stacking the deck against investors. Next, PG will be getting yet another increase in salary, stock options, and benefits. What about a corporate jet? Aa corporate boat? A low interest loan for $10 million at 0.01%? Watch your money disappear as PG manipulates ASCL into bankruptcy.
PG = WHAT AN INCOMPETENT JERK!
THE COMMITTEE OF CONCERNED SHAREHOLDERS SUGGESTS A SIMPLE/EFFECTIVE METHOD TO IMPROVE CORPORATE GOVERNANCE
Shareholders Should Be Allowed to Directly Select Truly Independent Corporate Director Nominees --- Persons Not Beholden To Management Or Fellow Directors For Their Selection, Retention Or The Financing Of Their Proxy Solicitation Efforts. That Is Not The Person To Ask The "Tough Questions" Of Management. The Days of Corporate Paternalism Should End! Corporate Governance Problems Will Only Be Cured When Shareholders Can Easily Replace Corporate Directors.
In its July 22, 2002 issue, in an article entitled, "More Reform and Less Hot Air," TIME Magazine states, "Get Rid of Pet-Rock Boards ... [T]oo many corporate boards of directors still serve as little more than puppets of management. ... Companies should be required to give shareholders election materials about rival candidates; ...."
The Committee has established a web site: http:// www.ConcernedShareholders. com to advocate changes to certain Securities and Exchange Commission ("SEC") rules --- rules which effectively preclude vote solicitation by corporate Director candidates directly nominated by Shareholders. ###
MrTigger, that last post was really not called for. Everyone already knows that IG's calculator is broken. Be nice to the mathematically impaired...
Frankly, if Weyland can get us a sweetheart deal with a buddy for a 42% premium, I'm all for it. It's good to have board members with connections and that can cut deals.
You poor, simple fool...
You may want to bone up a bit on the phrase 'net of cash acquired'.
Officially, as in, per the actual SEC filed documents concerning the acquisition, SDRC shareholders received $25/share in the deal. As of their last quarterly earnings report, SDRC had approximately 38,856,000 shares outstanding. Quick math gives you $971,400,000 for the transaction. EDS paid $840 million, NET OF CASH ACQUIRED, but SDRC shareholders received nearly $1billion.
The $25/share represented a 42% premium over the SDRC share price of $17.56 at the time of the announcement.
Now, as it seems you want to further compound your embarrassment, you bring up Ross Perot as giving Mr. Weyand a sweet deal. Well, Mr.
But, I guess you finally got something right when you said:
"Now I may be an imbecile"
Congratulations, you've uttered your first truth...
most times I agree with you...
But your post mentions Perot. Perot hasn't been involved with EDS in 20 years since he sold it to GM in the early 80's.
Please, please, please....do your homework before you post such drivel.
From the EDS Annual report...
On August 31, 2001, the Company acquired all of the outstanding capital stock of SDRC for $840 million in cash, net of cash acquired. SDRC offers software and services in mechanical design, product data management and business
In connection with the acquisitions of SDRC and the minority interest in UGS, the Company recorded a $144 million pre-tax charge comprised of acquired in-process research and development totaling $86 million and other
acquisition-related costs of $58 million associated primarily with certain UGS employee stock option transactions. At the respective dates of these acquisitions, the in-process R&D projects had not yet reached technological feasibility and had no alternative future use if the development is not successfully completed. The development projects generally included enhancements and upgrades to existing technology, enhanced communication among systems, introduction of new functionality and the development of new technology primarily for integration purposes. The SDRC development projectsranged from 50% to 80% complete and the UGS development projects ranged from 20% to 60% complete at their respective acquisition dates. The value of the in-process research and development was calculated using a discounted
cash flow analysis of the anticipated income stream of the related product sales. The projected net cash flows were discounted using a weighted-average cost of capital ("WACC") between 21% and 30% for the SDRC projects and between 27% and 39% for the UGS projects based upon an analysis of the WACC for publicly traded companies within the software industry, the stage of completion of each of the projects, costs and complexity of the work completed to date and to be completed, and other risks associated with completing the development. The remaining costs to complete the SDRC projects are anticipated to be approximately $51 million and projects will be released throughout 2002. The remaining costs to complete the UGS projects are anticipated to be approximately $47 million and the projects will be released throughout 2002. If these projects are not successfully developed, future revenues and profitability may be adversely affected, and the value of intangible assets acquired may become impaired.
And exactly what value added does Weyands bring to table? Look like he got a sweetheart deal from Perot! The same kind of PG got for Ardent from IFMX. When will you
Now I may be an imbecile; but your nothing more than an empty-headed dumb
Give me one good reason I should trust PG with "ANY" decision. He has yet to prove himself worthy of anything. In fact, he has proven to be a total incompetent.
What makes you think this move will be any different?
<<What is Nichols University? Isn't it a degree mill? At least Santa Clara University is a well respected, "accredited" university.>>
It is not a degree mill, it is a business college. The College was voted membership in and accreditation by the New England Association of Schools and Colleges in 1965. Seems like a pleasant place to get a degree.
With an enrollment of 865 students, it must me a pleasant place. How successful it is in educating skilled businessmen and women is an entirely another story. I'd take someone from Santa Clara over Nichols any day. But then again, competence for the BoD or management is not the issue. It's "cronies" that matter.