Re: court approval
in response to
by
posted on
Mar 24, 2012 09:44PM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
"Except for RM there is very little management skin in the game.If we shareholders don't end up with a $1.00 minimum then management should be embarrassed to take any money. I still own $5 shares."
Jimmi, my first thought on RM's skin in the game "a pawn". Used by management to show that someone from the company is actually buying shares to show interest.
My thought is that if a comany has come to bankruptcy and they have 2 people working in IR and one is very high paying (not sure of Andreas wage) then they should both be cut to save on expenses. Really what is the point of IR? There is E&Y monitoring the company and posting to their site.
With that said as we can see in the latest court docs that RM is included in the award process. VP Investor Relations, huh? Does the company really need to spend this money "salary"? Its a court case now. There is nothing whatsoever that can be said without a PR/E&Y site or really if you think about it ever was. As of right now the company wants to keep people on board that have been involved in the process. How many times has RM said he had been waiting or has been updated from RF. Doesn't sound like a person that is in the know or is of importance to the outcome of a legal brief for an arb case...just my two cents!
Management should be embarrassed to take any money but I really doubt they will be. They have been in it for themselves all along. Slowly the shareholders have been squeezed down to the now "pink sheets". Once on the pink sheets its anyones game. The company now has a golden parachute against shareholders so they really can take whatever comes their way. The shareholders were basically used (investing in VZ/KRY) to get their way. They have their way now but I must add IF approved by the court.
Mr. Marshall joined Crystallex in July of 1996 as Vice President Corporate Development. In the fall of 2003 he was named Vice President Investor Relations for Crystallex. From 1986 through 1995, Mr. Marshall held investment banking and management positions at several investment banking firms, including Cohig & Associates and J.W. Charles/CSG. Immediately prior to joining Crystallex he was a vice president of investor relations for US based consumer products company.
Salary | $178,000.00 |
Bonus | $0.00 |
Restricted stock awards | $0.00 |
All other compensation | $7,191.00 |
Option awards $ | $62,203.00 |
Non-equity incentive plan compensation | $17,000.00 |
Change in pension value and nonqualified deferred compensation earnings | $0.00 |
Total Compensation | $264,394.00 |