Thanks for pointing out several accomplishments, one of which is the $287 million gains. But, in June 2007, when I purchased SFE, the stock was $3(effectively $18 today). That, with todays price of ~$14.50, would indicate a 20% failure in the last six years. Despite having oodles of cash, a book value of over $15, no one at SFE appears to really have any concerns other than to issue yearly cash bonuses and stock options. I would not call that “significant shareholder value”.
8:14 am January 24, 2013
Fan of Facts wrote:
According to a Stifel Nicolaus research note published on October 25, 2012 Mr. Boni created significant shareholder value – ‘Based on Stifel’s calculations, the current team under Mr. Boni’s direction has exited 12 investments generating $287 million of realized gains ($471 million exit value on $183 million cost basis) for a 2.6x return on invested capital. Since Mr. Boni joined in August 2005, SFE stock price has increased 97% compared to a 33% return for the S&P 500 and a 19% return for the Russell 2000.’
5:19 pm January 23, 2013
Apparently eight years at the helm has bode well for Mr Boni. He has been well rewarded with high salaries, very prominent bonuses, and very generous stock options, all from a company whose share price has not gained one dollar in value during his tenure. Perhaps Mr Zarilli can use him as an example..
I think this is the same in all of wall street companies…getting rich on the shareholders’ back.