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Workflow Management, Inc. (WORK) Message Board

  • mogulone_99 mogulone_99 Aug 20, 2001 1:15 PM Flag

    Management bonuses

    I just finished reading WORK's proxy statement for FY2001. Can anyone explain to me how this management can miss their earnings budget materially with a 35% operating earnings decline and justify DOUBLING the bonuses of all of the highest paid managers as well as granting themselves salary raises?

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    • I too would love to blame someone else for my
      predicament, but there is a grain ot truth in
      the old saw - "there are no good or bad stocks,
      only good or bad trades". I must confess to
      being the "baddest" trader of them all - WORK
      is my only position.

      No long ago, I bought lots of HKF based on
      insider buying, but got nervous when it was
      being trashed at new lows. Not long afterward,
      it was 400 % higher. This time, i will just
      keep singing our theme song, "Hang on Sloopy".

      • 1 Reply to wilburd1
      • Looks like i was wrong. We should blame the
        bonus announcement for breaking 5 yesterday -
        certainly the timing is circumstantial evidence.
        Its silver lining has everyone removing their
        rose colored glasses - a first step to putting
        in a bottom. That said, i believe the bottom is
        a little lower. Support at 5 was to important
        to break by only 0.15.

        Fundamentally, WORK's PE is less than the DOW
        or S&P 500 - even after the one time charges.

    • I guess they are so busy thinking about what to buy with all there bonuses they didnt look to see the stock is at its worst level since it became a public co.

    • beautiful_but_baneful_bella beautiful_but_baneful_bella Aug 20, 2001 3:53 PM Flag

      that we as shareholders do to promote more effective corporate governance by WORK's managment?


      • 1 Reply to beautiful_but_baneful_bella
      • bella-

        I think the most effective thing we can do is call management and tell them that we won't tolerate this kind of brazen shareholder abuse. Such a statement might have a little more impact delivered publicly at the shareholders meeting, but companies this size don't usually get much turnout. (If I were in South FL I'd do it anyway)
        Beyond that, we can always vote against them in the board election-- usually a losing fight and carries no volume. Ultimately, of course, we can sell the stock, which I will do if these clowns don't produce some results to go along with their greed.