I asked for an example of an IPO where the insiders took large amts of cash out in the form of a bonus as in the case of SKX.Call it to cover tax as in this case or however you or anyone wants to chacterize a payment. I have not been given an example.How about a link to a 10Q for some other company where the same thing took place.Or a link to a story about it.
I have looked at a few IPO's . I am aware that founders often benefit at the time of an IPO by selling stock.What happened here is that a lot of cash that could(should) have been left in the company went to the founders.This was more of a negative to long term investors than insiders selling stock would have been of course because the cash would have offset borrowings.
Please tell me what other IPO's have been structured this way and I will research them myself.
I would think Alex Brown has a little bit of a better idea of what is fair to the company and to the shareholders. Skechers did not and could not pull anything by on Alex Brown. Everything they did was with full knowledge and agreement with Alex Brown.
By the way Mitch, you say you are LONG Skechers. Why would you be Long if you feel this way? Did you buy the stock before you did your research? Hmmmm... Me thinks we have a shorter or a person with a grudge who is trying to steer the pot..
Well, I strongly suggest you start covering your short, while the stock probably won't run too far too fast, it is definitly on an upswing, drifting up 1/16 by 1/18 steadly with a solid bottom at 6.
This is what I dont like about posters... they assume too much and are just as out of line as those they criticize IMHO. I was a HBI shareholder before selling that to buy SKX last week. I disliked HBI after learning more about mamagement AFTER I bought the stock. And the pro HBI posters would assume all the things you are about another poster(Mitch)..and telling them what to do like cover your short, or sell..... What a waste of time. Speculating about stocks is hard enough... And to say any company can not pull anything over someone is WRONG.. Yjere are alot of examples... look at CD..Cendant, how about Boston Chicken... I am always sceptical and think management often thinks of their self interest first.. like golden parachutes, etc. Nice to see SKX up today thought I wanted to buy more and was waiting for the fed move.
5% is nothing to get so excited about, I know, but it hopefully will draw some attention to SKX. We can bantor about many numbers, but for at least the next 6 months, this stock should post strong earnings if it keeps it's ad budget in check. There are just few other young brands that captivate such a large cross section of consumers like this one.