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Seitel, Inc. (SEI) Message Board

  • sondetech sondetech Apr 1, 2002 11:44 PM Flag

    SEI Stock to SKYROCKET!!!

    April Fools!!

    Or should I say Frame Fools. I like how Frame continually pointed out that the data is "PROJECTED" to have a 200% return, and that based on past experience (bullshit) they can show that the 200% estimate is valid (bullshit). Oh and that there is plenty of cash from "projected" operations to satisfy the debt, but yes assets are going to get sold. (and I'm not talking about the Data assets that the company is in the business to sell).

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    • Maybe, because the executives are crooks?

    • Soundtech, it looks like you were the biggest "April Fool" for your sarcastic post. You sound just like Framesbane and probably are just another of his hundreds on aliases. SEI did skyrocket. We'll take a 16% gain in a single day.

      • 2 Replies to azabl234
      • Azabl1234,
        I think you counted your 16% gain a bit too fast. As I have said before, this company has a good product, but it's managment is crooked, they ask thier sales staff to lie and pimp themselves out, they cook the books then try to say they are making them "More Transperant" when infact they just got caught. Thier chances of getting thier revolving credit reinstated anywhere close to the previous terms if at ALL are slim to nill, So yes I loved the irony of SEI realeasing thier RESTATED financials on April Fools day. I'm sure Frame and the boys had fun in New York as well spending SEI money right after they announced thier bad books. Oh what are the chances that Frame will ACTUALLY repay any of those bonuses? Sure he has agreed to but in reality SEI may get 5% max, perhaps the bankruptcy lawyers will get 5-10% more out of him.
        Sondetech



        Soundtech, it looks like you were the biggest "April Fool" for your sarcastic post. You sound just like Framesbane and probably are just another of his hundreds on aliases. SEI did skyrocket. We'll take a 16% gain in a single day.

        SEI Stock to SKYROCKET!!!
        by: sondetech 04/01/02 11:44 pm
        Msg: 6161 of 6285

        April Fools!!

        Or should I say Frame Fools. I like how Frame continually pointed out that the data is "PROJECTED" to have a 200% return, and that based on past experience (bullshit) they can show that the 200% estimate is valid (bullshit). Oh and that there is plenty of cash from "projected" operations to satisfy the debt, but yes assets are going to get sold. (and I'm not talking about the Data assets that the company is in the business to sell).

      • I have not been back here for a long time. I am guessing 2 years. From my experience Paul Frame is the greedy monster himself, bound and determined to get the most money possible out of this company, EVEN when he appears to be restructuring his compensation, as he is doing ONCE AGAIN here. Though I must admit linking it to pre-tax profit is a big step in the right direction. However, note that he has not yet come up with a revised compensation package. He is just talking about it. I will grant you it is a step in the right direction, but watch for him to arrange a high percentage of pre-tax income so that he still makes obscene amounts of money, and or jacks up his other compensation so he still comes out at the same place. That is how he has worked in the past anyway... like we are all idiots and can't see he didn't really cut his compensation. We shall see this time. ANY package by which he can earn more than a million dollars is way too much. Guys in his position in a company this size are generally happy with under a million, say, $500,000. Paul has to have $2-3 million (last I looked anyway) one way or the other. Let me see, ahhh, I see nothing has changed. This is from the Yahoo profile:
        Officers [Insider Trade Data]

        FY2000 Compensation
        Pay Exer

        --------------------------------------------------------------------------------

        Paul Frame, 54
        Chairman, Pres, CEO $3.3M --
        Debra Valice, 44
        CFO, Exec. VP - Fin., Treasurer, Sec. $1.2M --
        Kevin Fiur, 34
        COO, Exec. VP, Gen. Counsel, Director $1.2M --
        Russell Hoffman, 41
        VP, Corp. Communications. $850K + $131K= $981K

        Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.; "Exer" is the value of options excercised during the fiscal year.

        Wow nothing has changed! He is making more than when I left! Now it is $3.3 million for one year!! And the CFO makes $1.2 million??? are you kidding me??? Legal council another $1.2 million!! And the director of corporate communications made $981,000 in 2000. ARE YOU SERIOUS???!!
        Keep an eye on these guys. I think Frame is so greedy and crafty that way (we all thought he reduced his salary a few years ago and it was just a charade. ...(cont'd)

    • "Mr. Frame has agreed to repay a total of $2,572,730 in such advances plus interest and Ms. Valice has agreed to repay a total of $621,293 in such advances plus interest."

      ...."Seitel's Board of Directors last week voted to reduce the outstanding balance owed under the promissory note to be executed by Mr. Frame by 20% in any year in which the pre-tax profits threshold of $10 million is met. The Board also agreed to apply the same 20% reduction to Ms. Valice."

      I am wondering why the couple not in prison!?

 

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