Looks like Tony was a little too confident in saying the lawsuit was no big deal.
https://seekingalpha.com/amp/article/4185923-windstream-aurelius-pushes-back
5 replies (most recent on top)
This is the exact same situation that EarthLink was in post WIN aquision. Joe Eazor (former ELNK CEO) and Louis Alterman (former CFO) lied to the WIN board about the value of the company. Why because a large part of their compensation was in stocks. ( They are both facing a law suit and jail time)
I really don't understand the corporate culture of hiring failed executives to run your company. It's soo incestuous in Tech and especially in telecom.
New company board : " Hey, you ran that last company into the ground. Let's offer you a multi million compensation package . If you really FCUK up this company like the last, we'll offer you a golden parachute for $5 million. How's that sound?"
New CEO: "Yep, sounds good. I'll throw out an unreasonable goal for my teams to achieve. After I Eff that up, I'll search for a new buyer. In the mean time I'll run the stock price from $20 to a penny stock in a matter of no time."
New company board : " Your hired!!! "
REPEAT
TT wants everyone else to buy Windstream but won’t put his money where his mouth is and that’s a problem.
Large investors watch for this from the CEO and its non existent on the sinking ship.
I can’t blame TT for not buying any but he has no credibility.
Well to be "fair" to them. TT and LL are the two single largest individual non institution shareholders in Windstream. Both of them aquired this by compensation packages that give a dollar amount of stock at the market price. However looking at the FEC fillings on insider trades I don't see either one of them buying bulk in the market. Looks like ole TT was doing some quick day trading to pay for another vacation or something but once all his trades were done he ended up with roughly the same amount...
https://www.reuters.com/finance/stocks/insider-trading/WIN.O?symbol=&name=Thomas+(Anthony+W)
As confident as TLON is about his growth strategy, it’s odd he isn’t buying what he’s cooking.
I keep waiting for TLON to buy $1 million or more of Windstream stock in the open market.
It’s all smoke and mirrors until the CEO steps up and eats what he’s cooking.
Hey TT, Tell the judge this isn't a prison and you are tired of their drivel. Sure that will go over well.
Don't think they are drinking your koolaide.