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Magnetek, Inc. Message Board

  • bozo1234_94549 bozo1234_94549 Jun 10, 2005 2:43 PM Flag

    two oh six, pick up stix

    go to beddie bye folks;

    this stock will now flatline until news about the Ole settlement.

    Trust me.

    On the other hand, 2.06 was a fair price, pending news and all that.

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    • Can't speak to what he did or did not accomplish at PGE, however, as a Board member for MAG, the majority of his reading was probably limited to the dinner menu at the quarterly meetings and not the financial statements or he would have acted much sooner with respect to your "Ganif." He will have no impact on Nilssen as that decision rests with the courts.

    • Actually, he was brought in as head of PGE during their troubled times. He navigated the company throught several serious lawsuits, the energy crisis and put the company back on a secure footing. I wouldn't downplay this man.

      I believe he is essential to bringing this Nilssen fiasco to a close and in MAG's favor. We are beginning to see the results of this in the court filings.

      You are right about Galef (I affectionately refer to him as Ganif). Did that man have alzheimers or what??

    • Relatively sure that Mr. Boren has never spoken (nor will he) with Mr. Nilssen. Boren is a caretaker. He was appointed by the Board given that Galef was so far out of touch it was an embarrasment. He appears to be a reasonably bright individual but (please remember) was part of the group that let the situation deteriorate over the past ten years. It is quite probable that his tenure will not exceed 12 months.

    • Enough Bozo!...If you're somehow attempting to shore up your claim to a Stanford education you're failing miserably...

      As a claimed graduate of their law school I'm sure many of us here would love to get your legal input on the strategic arguments being advanced by MAG in support of their motion to set aside the Nilssen arbitration award. We can all certainly learn from a graduate of one of the nation's top law schools.

    • infinitives. "To better negotiate"


    • No, I haven't ever spoken with the man. But his shares won't be worth half a million if he loses. Perhaps much, much less.

      The positive is that the compensation is in stock. The carrot, so to say.

      Otherwise, I am still waiting for the reason for the change in CEO. It wouldn't make much sense to change CEO's at this point unless there is some stragegic reason. And, I don't believe he would take on such a daunting task uless he was very sure of his prospects.

      At first I thought he was brought in to better negotiate a settlement with Nilssen. However, it now appears the reason was far more strategic than even I suspected. I wonder if Gabelli had something to do with this.

    • What makes you think"he expects to prevail".....have you spoken with him?....I do believe you are correct....a half million signing least!

    • I believe this is a form of compensation. He paid nothing for these restricted, non-voting shares. This is a very positive signal from MAG. Boren expects to prevail against Ole and his shares will go very high in value as a result. I also feel that Boren was brought onboard as a necessary replacement during this transitional period.

      He never exercised an option. The shares were given to him outright with no consideration.

      If he accomplishes what I believe he will, this is very cheap compensation.

    • I'm wondering what the nature of Mr Boren acquisition of 240K shares(non open market) on May 9 was....anyone have any info? Did he exercise an option and if so at what price.

    • ...Nice job Squid...Sounds like we may have a real fighting chance here. Darn good analysis too...Thanks for taking the time to post this for all MAG longs!

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