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Edgewater Technology Inc. Message Board

  • madboy9911 madboy9911 Nov 16, 1999 12:24 AM Flag

    SEM, Saudi, or So What

    Unless you people are insiders, you must be
    shocked by the behavior of this company's management. The
    key to this company will be if they can demonstrate
    performance. When will that be? Can anyone point to where they
    talked to us as shareholders? So far this year, they
    disappointed the market by announcing that they weren't going
    to make earnings at least three times. As you
    probably all noticed, the officers just recently gave
    themselves raises. That must be because Mr. Steven Bova
    wouldn't come on board for less than $325,000/yr. So now,
    Clete, Terry Belldora(the hidden one), and Gordon
    Allison, all got raises; substantial raises while the
    company is suffering. Clete just went from $150,000 to
    $350,000 per year - well deserved, probably due to
    shareholder wealth enhancement!! Right!! Did you notice the
    termination provisions - should he be fired or the company be
    taken over?? Does anyone doubt their arrogance now?
    This is a "Mom and Pop" billion and a-half dollar
    company. I hope to see you all at the shareholders meeting
    nest year. Comments??

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • After watching the blind following of this
      board's posters for so long, I must speak to the complete
      accuracy of madboy9911's post. Arrogance and inexperience
      are the only qualities needed to be in the current
      management group of this HOWLING DOG. The sooner you all
      stop believing SEM and his self minded followers, the
      sooner you can put your money in a well managed company
      and start recouping your losses. These guy's don't
      have a clue. They're like a few hillbillies with a new
      4x4. Intellimark is going down faster than the
      Titanic, with every quality management person (including
      all of the ex-owners who knew how to build a
      business) either gone or ACTIVELY looking for a real
      company to be involved with. Raises? They should all be
      unemployed! Anything they do is for their benefit ALONE.

      • 3 Replies to profiting1
      • Hey Profit, pop a chill-pill man. Take some
        responsibility for yourself and stop your whining. Obviously you
        belong to either the disgruntled ex-employee brigade, or
        an investor with little insight....
        Look, it's
        simple, if you don't have the stomach to play the game,
        sell your 200 shares and buy a 5 yr term deposit for
        I always recommend doing your own DD. Spend a few
        minutes and read through a few STAF SEC files, do some
        comparative corporate analysis, offer some constructive
        criticism, and/or God-forbid productive dialog.
        STAF sits
        in my back-pocket till end of Q2 2000 as my only
        long-term investment.
        Profiting1, I suspect you've lost
        a lot of money in the market. I'm going to offer
        you an olive branch and show my goodwill to your
        sorry ass. ASD Systems (ASDS). Do your DD, thank me in
        60 days. I will say no more.


      • I don't want you to believe me. Doubt everything
        I say. Do your own homework. Research the hell out
        of the company. Draw your own

        Beware of ALL posts. Many of the naysayers on the board
        are the folks who had their companies bought with
        higher priced shares of stock, then watched the stock go
        down, got pissed off and stopped working & got the axe.
        Now they busy themselves grinding
        Footnote: I excited to see the acknowledgement that
        anything management does, they do for their own benefit
        ALONE. Considering Walters and Brewer each own over a
        million shares a piece, that's the most optimistic
        statement I've heard! A one dollar increase in share price
        benefits them five times as much as the raise.

      • It also is the only quality needed to post on this board. My friend-you really don't have a clue as to what your talking about. Sounds to me like you sold to soon.

    • No don't think so, I live up in Vancouver Canada
      next to my beloved mountains and ocean....away from it
      all. Don't think I'd make a very good insider, I have
      little patience, interest in corporate politics or day
      to day management decisions. Have to admit, I
      wouldn't mind being a fly on the wall from time to time,
      might be entertaining.... Am I shocked by behaviour of
      STAFF's management? Not at all. Should I be? As GSN
      stated in a previous post, STAF has completed a
      remarkable growth and acquisition program in recent years.
      Patience. Play the cycles....

      I mentioned in
      previous posts, I'm a value investor using technical
      analysis to search for out-of-favor securities with
      excellent upside potential. I concentrate primarily on
      momentum, investor sentiment and money flow. Tracking
      investor emotion and money flow is much more intesting to
      me than waiting for management to say something
      (that's probably already factored into the

      STAF will have cycles that's a given. I always
      recommend; do the research on the securities you buy/sell,
      especially STAF. There must be a very good reason GSN
      retains his confidence?? I know why I retain mine. I seek
      value and play cycles.

      Establish your own game
      plan. Buy if you feel comfortable, sell when your not.
      Establish a trading zone, learn the patterns, cycles,
      listen to your own DD. And above all else,
      have some fun,,,


      Greenspan rate increase with no bias. Great news. Look for
      excellent trading patterns over the next three months.
      Healthy STAF by end of Q2 2000.

    • Please accept my sincere apology for venting my
      frustration on you. In looking back at the posts, I realized
      you were not the one preaching advice to management.
      My fault, and I'm sorry for jumping on your case.

      • 1 Reply to going_stealth_now
      • I too want this company to do well. I am a
        substantial investor. Management's actions just get
        frustrating when you see "dual" messages (i.e. their actions
        (pay raises) versus their results(stock/bottom line
        performance)). The raises and perquisites ("perks") are not
        material in nature, it is the principal of the thing - and
        the timing is horrible. Apology accepted, you are
        very gracious. Here is to more days like today!!!

    • I'm not an insider. I'm not "shocked" by the
      behavior of management either. You've been doing a lot of
      bellyaching on this board, and with the stock down so far
      it's understandable. However, get your facts right.
      Your payroll numbers on were wrong. Most of the
      employment contracts had provisions for the raises anyway.
      There are no surprises here.

      It seems you have a
      great deal of advice to give management on how to run a
      company. (previous posts also preachy). Why don't you just
      sell your stock and go away. I've never understood why
      someone would own something that makes them so unhappy.

      • 1 Reply to going_stealth_now
      • SEM / going stealth or whatever. I have
        appreciated many of your posts of past, however I believe
        that you have ovestepped yourself this time and owe
        Madboy an retraction.

        Clete DOES need help in his
        management of STAF and it is clear that we should be doing a
        lot better than we are.

        Some of us that own
        this stock may not be happy with it but can not get
        out at this price for one reason or the other. I have
        no doubt that a great number of us would rather be
        invested with a better management team, but just can not
        at this time.

    • A conference call was held about a month ago, and
      the telephone number was posted here on this board.
      Secondly, earnings revisions were announced twice this year
      (where did you get "at least three times"?). And
      finally, what is the source of your information regarding
      these purported pay raises? If it is true, they would
      be unconscionable, given the performance of this
      stock for the past year and a half. However, before we
      start complaining to management, we need to have a
      verifiable source of this information, as well as an
      explanation of its contents.

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