RE:RE:RE:From globe and mail[there was no benevolence when the company was crumbling. Didn't someone try to take it private? Wasn't for shareholders benefit was it? quote=Yasch22]Any shareholder with Canadian canastas would tell this whole gaggle of American activists to take a flying hike.
Let's ask a few questions here.
Has any other company you've ever invested in come under this kind of attack over executive pay, where 80% of that pay was entirely contingent on (at the time) extreme increases in the share price?
-- Note: When the contract was signed, the sp was US$4.38. Chen needed the sp to rise by 3.7X -- or $11.62 -- for him to get the first tranche of bonus shares. To get to US$30 (CAD$37), the sp had to rise by 7X.
Were Glass Lewis and ISS acting independently, or did Dorsery Gardner sic them on Watsa and Chen?
Is Gardner in turn acting on behalf of other interested parties? Why is his attack on Watsa so personal, where he questions Watsa's loyalty to the company?
-- Note: this too me is an incredibly low blow -- aimed directly at Watsa's canastas. And it looks as if it almost worked. So many sheep, easily misled by the yarns spun by a plucky little minority shareholder from the U S of A, voted against Watsa and Chen's pay packet in today's meeting.
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