Not to mention 30+ year employees and 15+ year employees laid off in the past year or so..nice to know where their "saved" salaries went....
On August 22, 2007, the Compensation Committee of the Board (the "Committee") agreed to enter into a new one-year employment agreement with Kenneth M. Darby, the Company's Chief Executive Officer, to expire on September 30, 2008. The terms of the new agreement provide for a $75,000 increase in Mr. Darby's annual base salary to $400,000 effective October 1, 2007. A copy of such agreement is filed as an exhibit to this Form 8-K and is incorporated into this Item 5.02 by this reference.
In addition, the Committee approved an amendment to Mr. Darby's performance-based bonus plan for fiscal year 2007 whereby he will earn a minimum of $300,000 for achievement of a certain expected annual profit.
Wanco Chooses Vicon�s SurveyorVFT Camera Domes for
New Portable Surveillance Units
Wanco, Inc, a top manufacturer of highway and traffic control products, has chosen Vicon Industries Inc. to provide cameras for Wanco�s new portable surveillance units. These compact, self-contained units provide a convenient and rapidly deployable solution for temporary remote surveillance needs at construction sites, outdoor events and other locations where there is a temporary need for surveillance. Up to four Vicon SurveyorVFT 23x day/night camera domes are mounted atop a 26 foot telescoping tower attached to a portable trailer body. The tower collapses and folds to a horizontal position over the trailer body for easy towing. When deployed, the cameras on the portable units provide high-resolution surveillance video that may be monitored via wireless communication from either a central monitoring station or from any computer with internet connection and loaded with Wanco�s client software. Camera functions, including pan, tilt and zoom, can be fully controlled from the monitoring location.
SurveyorVFT camera domes were chosen by Wanco after significant product testing. Because the cameras are being used in a mobile platform, Wanco faced many unique challenges that do not exist in a typical installation. The cameras need to perform in a wide range of environmental conditions, including heat, cold, vibration and dust, as well as operate on the finite amount of power provided by the trailer�s battery. According to Silas Campbell, Sales Coordinator at Wanco, Vicon�s exceptional customer support was also a factor in its selection. �The cameras tested among the best that we looked at, and the company�s service was far and away better than the others.�
I am curious, 1 writer trashes customer service and the other trashes tech support...while they are totally connected, I ask you both to specifically comment on the shortcomings of both or to differentiate between the 2...please...
Darby--$75K bonus is 25% of his $310K Salary...
Badke--$35K bonus is 19+% of his $180K Salary...
Notice the downward trend as one moves down the ladder...
Wonder what % for us peons???
The Agreement provides for an annual base salary of $175,000 through its expiration on December 31, 2007, unless terminated earlier by the Company under certain occurrences. The Agreement also provides that if a change in control of the Company occurs (as defined) without Board of Directors approval, Mr. Badke has the right to cancel the Agreement and elect to receive a termination payment equal to three times his average annual base salary for the five years preceding the change in control. Mr. Badke is also entitled to a severance/retirement payment of $350,000 upon a specified minimum retirement age or earlier under certain occurrences, including his termination of employment for reasons other than misconduct (as defined), death or disability.
The Agreement also provides Mr. Badke with an award of 6,561 shares of the Company's common stock upon attaining a minimum retirement age or earlier under certain occurrences, including his employment termination for reasons other than misconduct, a change in control of the Company without Board of Director approval, or upon his death.
It is a requirement of the postal contract to sell direct to the Electrical Contractor...Vicon opposed this both times the contract was put up for grabs...Dealers (only) do miss out..but installers are in for that part of the job (it is installing dealers that are the bulk of the customers)...
Contract value is unknown as this is an exclusive vendor contract.
If they have funded (key word--) requirements,they can go only to Vicon.
If they have no requirements, Then Vicon will get no business.
The USPS has not stated any numbers relative to future construction or their own intentions so there is no ability even guess as to contract worth.
Vicon is the exclusive vendor for USPS CCTV needs "IF" they should have any.
You can have no doubt that any "new construction" budget will be reduced to add more the gasoline budget..they are not riding pony's anymore...it ain't hay that moves the mail.
The new Director Of Cust. Svc was let go, no comment on reasons, but rumours deserve no comment regardless...public pressure has been ineffective, with the definition of public being this forum...Happy Holidays to the fans and naysayers....viitech...
It is my understanding that this gives Vicon an "in" to the German market as there is a national policy not to do business with companies who do not have a presence in Germany.
If it is posted on the internet at http://www.videotronic.de/ how is it not already in the public domain??
I do not understand the reference to SAFE HARBOR.
Vicon to acquire videotronic
Vicon Industries announces the acquisition agreement of German manufacturer videotronic infosystems.
Announcing the move Vicon stated that the combined strength of both companies would bring exiting potential for videotronic customers in Germany and beyond. As a wholly owned subsidiary of the Vicon Group, videotronic infosystems would continue to operate and trade under its own name with its own outstanding product range but would also now be able to offer appropriate elements of the Vicon range.
The new videotronic infosystems is dedicated to deliver outstanding performance solutions in video and CCTV applications along with enhanced levels of customer support and service.
From the http://www.videotronic.de/ website
The long haired, kinda big tech (matrix and mux guru) was and still is, Fabian.
Lawrence was and is, the queens english speaking sw engineer...
I too wonder who hateshockey223 is?!?!? he speaks fairly and knowingly of the company...