Tuesday, July 18, 2006

Investor relations

The Apologist's Fund: a 9/11 Options Grantee Investment

We had that critical moment of national crisis -- during 9/11 when the US was under attack. It was rather revealing to see how a small subset of CEOs and CFOs, and their do nothing, overpaid, lapdog Boards of Directors behaved. Did they demonstrate a strong respect for their shareholders? Were their thoughts of God and Country? Were they men and women of courage and character?

Unfortunately, the answer for this group of 511 executives at 186 companies was a resounding no. In a moment of terror, their initial unguarded instinct was to make a money grab for cheap -- and may I add, dilutive -- options. They were not only not patriots, but they were not shareholder friendly either.

Lends a whole new meaning to the phrase selling America short.

No comments: