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CSE Message Board

  • southwindmarketing southwindmarketing Jan 7, 2009 4:45 PM Flag


    GC - When you commend Delaney for not taking a salary you show your naivete. He was making roughly $7MM x The Dividend = $16-18MM/year.

    I'm not saying that Delaney has done a very good job of navigating CSE through these tough times but - come on - he has been compensated for it already.

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    • What I am is cautious and I am looking for credible answers to what is currently going on with CSE and the red flags it raises with me.

      Evidently those red flags are not red to many posters on this board but who knows who they are who they represent and what their agendas are.

      Amending company rules to provide a 100% increase in "performance" grant of stocks is alarming considering the performance.

      Now Faralon has notified of amending stock ownership rules in what appears to be renaming of holding companies mostly off shore.

      The most crucial red flag to me is the disregard of shareholders while management continues to self reward.

      Rules have recently changed to favor Reits and this timely move to a bank holding is somewhat questionable.

      As for my investments I own CSE and currently I am looking for a reason to either own more or own less. I am leaning towards the latter.

      One red flag was way back when they wanted to buy TONE when it held all the Miami condos.

    • John, the dilution point is fair. If you look at CSE over the last 18 mos, they have been raising capital every which way -- DRIP, paying compensation with stock, issuing stock to retire long term debt, capital issuance, and dividend cut.

      I really am interested in your views about your exit strategy. Are you holding long term or looking to get out at a specific price? What do you like about the company?

      I am long, but realize that there aren't going to be any rainbows anytime soon.

    • Most of this posting board believes they are working for free, hard to argue that point when they believe that BS.

    • I don't commend him for it??I will say that, I do know he's a very charitable guy and everything in life isn't about tax deductions! That's very cynical to think that way.
      My point is always that, Mr. Delaney, has an interest in the share price, because he get's (more than handsomely, might I add) paid in stock, not salary and stock, just stock. Most investors assume he doesn't give a flying fig about it,(Share Price) because of some huge salary,(He doesn't get) but he does care, as it directly affects his net worth.
      I agree, he has been paid, in the past, quite well in stock and options. I'm not going to say what he should or shouldn't get, because quite frankly I don't know that I'd be qualified to to do that. Could he be leaving? I don't know, I hope not, At least until this banking crisis is over. GL


    • Dividends do not equal compensation. Dividends are the results of his stock ownership. Who the hell do you think created this company? He stands in the same shoes as shareholders. In other words, with the reduction of the dividends his personal income has gone down.

      Now if he had sold his shares in the company and invested that money elsewhere, would you be happier?