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Safeguard Scientifics, Inc. Message Board

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  • seansmith513 seansmith513 Jan 24, 2013 6:28 PM Flag

    WSJ article

    12:03 pm January 24, 2013
    sean smith wrote:

    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
    seansmith wrote:

    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.

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