As far as salaries are concerned on page 9 management and directors were paid 2,467,062 dlrs in the year ending June 2007 and in the year ending June 2008 they were paid 1,992,314. So who is complaining.
Klaas, what is conveniently not shown on this list is the new salary for the Rimmer (VP engineering so probably 300k) Mike Mulins head of supply chain (allow 250k) and the new greek adonis, head of SMA DNA (budget 300k). Then add with AS new $520k plus "entilements".
And guess what? its gone from an a senior management team salary cost of $2m per year to a senior management team cost of $3.4 per year.
I'd love to know how they came to the call on AS new package around the board room table...
Fraser Brown..."Guys we're losing money, the markets have tanked, revenue is only dribbling in, cash burn is up, Larson is only a trial, we wont be listing on NASDAQ......what do we do?"
Velvet..."I can only keep up my cover up on HC for so long before people start to realise i'm a plant...I can't do this on my own.....I'm scared"
Febsey.."Ok i've got it ! Lets move AS across to NY so he's a little closer and give him a 500% salary increase so his family can enjoy the good life. That will make investors feel that we are strong and their futures are assured"
Velvet..."Febsey your a genius...our works done for the day. Lets go to lunch with the Corporate AMEX and celebrate that inspired decision"
TZL Price at posting:
$2.43 Sentiment: LT Buy Disclosure: Held
