"The investigation is moving forward FULL STEAM.I have a feeling they found something tough.Remember boyz and girlz who gave the start of all the scandals (backdating ,Enron fraud,etc...)...exactely WS= Journal...so, do not get confused, the article that someone posted here a couple of days back (THANK YOU for doing so) is not some random speculation,but rather official info.DO you think that Jack would have not sued for libel WSJ if they were inccorect?
Remember, payback is a sweet....."
I told you time will come when WE will agree on certein issues.Now I know that you are a bit ADD and did not get my post -and is OK I will explain.IT IS NOT ME looking forward to a payback.Me is very small and have no POWER (unlike you)
Is the BIG BOYZ on WALL STREET that Jack pissed off so manny times and OBVIOUSLY is the NEVER ENDING INVESTIGATION of the BACKDATING that takes longer that it SHOULD.
Should I remember YOU that Jack stated about SIX month ago that no wrongdoing was done about this issue.
Well my friend is almost CHRISTMAS -6 month later-and WE (ME AND YOU) do not know THE ANSWER.
You call ME bitter ? I am not ...I think you are just a bit retarded and do not understand the situation.....
Boy do I hate agreeing with Maximstechino BUT.........I have to assume at this point that there is something seriously wrong. If all was OK I would think that MXIM would have reported by now. I still do not understand why you are so focused on "payback". You have the ability to walk out the door dont you? If you are in a situation that you hate so much then I can only assume that you are staying for the money. So what payback are you talking about? You are being paid to stay there, right? What is it that you are so bitter about?
The WSJ article continues to bother me.
One could easily conclude from that article that Jack is guilty of backdating and that Maxim has taken a stance of lack of proof. Anyone even remotely involved with the markets knows how incredibly difficult it is to hit a market bottom even once in their investment career, let alone on a regular basis. One also has to wonder how long this investigation will go on. Is this a case in which the investigators are convinced of a guilty verdict and continuing on the hunt indefinitely?
Someone posted a James Cramer article recently. In that article was the notion that investors are questioning the management of companies under investigation for backdating. If investors can�t trust the management team of a company then other investment options can look more attractive.
I don�t have any answers here, just questions.
A better question might be to ask why the hell the 10K/Q or whatever needs to be filed still hasn't been. It has been over 2 months since the "big announcement" of the suspended stock programs for employees. Being inside the walls must be a joy these days.
Does anybody have a clue whether it is more likely if Maxim is involved in a buyout OR if Jack and co. are negotiating with the government to lessen whatever consequences are coming? Why else would it take only Maxim (or are there other companies with a similarly delayed reporting status) to report as necessary? We need answers!
I have wondered in posts here on this board first at the time being taken and the costs to perform this investigation.
To date I have yet to find other companies(excluding those that have already admitted backdating irregularities and/or issued re-statements) that have taken so long. If I've failed in my search, I invite others to please identify these corporations for us.
Based on what we have been told(very little), MY OPINION is that during the initial investigation they found something that was not quite kosher. Perhaps it was something that in the past(pre-Enron) would have only raised an accountants eyebrow, but with todays high powered spotlights on irregularities...opps. Most likely with all options not only those of a few top executives.
This has triggered the reported full search of all options issued. So lawyers and forensic accountants are making big bucks at Maxim right now trying to determined what happened. $3 million as of September 26th and more beyond that most certainly, just to figure it all out.
So MY OPINION (again) is that something was found and there will be some kind of re-statement issued. How big, I don't know. Consequences, criminal and/or civil prosecution for those in charge, I don't know. Share price impact, I don't know.
But what I do know, is this kind of news (IF I'm correct) is never well received in the market and will take a long time to recover from.
Quite sad for a company with many smart and hard working people. As I've stated before, no matter how hard those thousands work to make Maxim a success, much of it can all be undone by the actions of a few or perhaps one highly compensated individual(s).
Root cause of all this happening......hmmmmmmmmmm.
One word I can come up with is arrogance, but I've said that before too.
Finally I will say I hope I'm wrong, really I do. But it's really hard to ignore this much smoke.
My take is that earnings are going to take a BIG hit. Everything here points to a big negative. I just do not think that Jacko would want to sell his ATM machine. Where else can he milk 20-40 million a year with so little effort. Maybe matching chrome bracelets are in order?
MARTY81274 should be crowned the KING OF OBVIOUS! I am just curious if you have a point..........I believe all would agree that this stock is a POS. No doubt about it. You are preaching to the choir.