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Broadwind Energy, Inc. Message Board

  • sashasedlak sashasedlak May 12, 2012 8:43 AM Flag

    Fatty salaries!!!

    BWEN management first take care of their fatty salaries.
    Than after they get it, they showing company results.
    If they all did cut their fatty salaries to half, BWEN would be actually showing much better results, even there would be a small profit. And stock would be now around $1.Now they going to split it and make more dilution for shareholders.But their fatty salaries stay the same? I'm right?

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    • In some degree you are truly right. Steve Jobs took back control the second time and only took a dollar salary for the rest of his days. He built value by rebuilding the company and therefore the stock. When I see the amount of compensation these company leaders took during the last year in stock compensation bonuses, I wondered why there is not an extra effort to build the value of the company which would include voluntary cuts in pay until profitability is achieved. This action goes straight to increasing the bottom line. The biggest destruction of stock pricing in the last year is when they chose to undercut the prevailing price by at least 25% and offer 32.5 million shares for $0.40.!! The book value per share on September 16, 2011 was over $1.20/share. By this action they reduced all the stock holders current asset value to about $0.85/share. They gave valuable assets of the company away for a song!!! You don't think I have a right to be upset ( Birdie) when they steal your value in the company and give it to someone with big pockets to raise quick cash for ACTUALLY "30 cents on the dollar"? This was no 24 hour decision. They were planning another stock sale to raise cash. But with our collapsing stock price since the announcement of the bankruptcy of Solyndra, the Board acted with fear and reduced the price to a gift. The current price is a gift. If you are not accumulating all you can afford to risk, you may regret later you delayed. It is okay, because there may be one more drop of almost 50% from here. I would never plan on it though. If it does, it will be the result of news that causes much fear among weak hands in the company. GO BWEN!

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