Adding insult onto injury and a good example of TMF caps and caps players getting it wrong...
If you look up USU on caps, you'd find a 4 star out of 5 star rated company...
However if you say had owned it over the past 5 years... you'd swear you had just been molested without any lubricant.
So anyways recently USU made the horrible choice to perform a 25 for 1 reverse stock split and to add some insult onto injury anyone who once had it with such a split now had gotten the price of the stock back to where once it traded... except say if you had once had 700 shares... your shares are now 28 and to add further insult onto injury they stole an additional 20 dollars from you for doing a simple mathematical equation.
Yes now on top of the stock being able to be re shorted and be able to more quickly be driven down, they basically passed on the costs onto shareholders or basically stole from them.
Its akin to some company deciding to offer donuts and coffee for its employees and customers during an open house and than deciding to take out of direct deposit accounts money to pay for said donuts and coffee ~ only there never was any donuts or coffee.
Basically they added an additional 10% cut to capital for someone who say had 700 shares before the reverse split.
My goodness how the heck has the CEO of USU managed to keep his job let alone get 5 million dollars in compensation for year 2012.
Yet despite a long and protracted down turn in the stock well before the Japan tsnami event.
My bad compensation was John K. Welch/President and Chief Executive Officer 5,027,0226,139,9296,467,5416,536,8785,322,116
The Welcher actually took in $ 5,322,116 in 2012.
$ 6,536,878 in 2011
$ 6,467,541 in 2010
$ 6,139,929 in 2009
$ 5,027,022 in 2008
Dang you'd think John could have paid out of his well paid pockets the costs to essentially remain on most exchanges by doing a reverse 25 for 1 stock split.
Heck I bet he thinks he's done a good job over the last 5 years... meanwhile shareholder value has dropped like 99%
This isn't the 1% club I wanted to be in...
For shame for shame, but I doubt there is any shame...
I guess since usu is probably unrateable you won't see it drop any stars...
4 stars my you know what...