Rambus's acknowledgement of abuse of the options granting power of the board while unsavory is long overdue.
I believe Rambus has been aware of this problem for sometime and it explains in part the strong reaction of Harold Hughes at the annual stock holders meeting to the options vote issue. Insiders simply do not want to be weened from the options gravy train.
Hopefully, Rambus will address the pricing of options at below their market value in Q4 1999 and also the issue of options which had mimimal incentive value in the years 1999 and 2000 as well as the issues brought up in the Chu case.
It would seem desirable that the company now publish a coherent account of options grants to the executives, board members, and employees of the company.
Digging this information out of the 10-Q and 10K is quite difficult. It should be a transparent process.
This is actually good news for the company and represents an opportunity for it to achieve higher corporate goverance marks.
In the short run, however, its leads to mistrust of the executives and board members of the company for failing in their privileged duties.
As character is more difficult to change than personel, changes in the board of directors and executives of the company in order to restore confidence seems to be in order.
The only remedy for the stock holders is the return of the stock or the profits from the illegitimate options grants to the company treasury.
As a bare minimum, the outside shareholders in this company should be able to have confidence in the fiduciary responsibility of those running this company. This has not been the case unfortunately.
infring, what a f***ing 180, can you wipe your ass without putting your finger in the air to check out the wind? how many times did you say this is good as it puts money in the bank? tried to make it good news for christ sakes and now this? jesus really want to sell those reports don't you?
That's why it's kind of odd that he was at the hearing today, but when he got out he had more to say about the options thing than the hearing. Maybe even Fringe didn't have the energy to try to pump that.