Zhone Forgives Exec Loans

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optical_man 12/4/2012 | 11:13:18 PM

re: Zhone Forgives Exec Loans I'm simply amazed that companies are STILL giving their Executives loans.
Isn't that what Banks are for?
This appears to me to be a simple case of looting the company.
Wonder how many 'loans' old Mory has? Bet the repayment date is: whenever I can figure out how to sell Zhone.

Exec to Board of Directors: Give me a loan.
BOD: OK.

BOD: Pay it back?
Exec: No, I'll sell the company with the stipulation that the loan is forgiven.

BOD: nice idea, maybe we should get loans as well, before the sale date.

Theft by any other name still smells the same.

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ramsu 12/4/2012 | 11:13:17 PM

re: Zhone Forgives Exec Loans One damage-control exercise (for investors) to this increasing malaise is blacklist these unethical execs and never to invest in the companies which have anything to do with them.

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OpticOm 12/4/2012 | 11:13:17 PM

re: Zhone Forgives Exec Loans So, the fat cats are becoming even fatter, while the investors, who are the real owners of the company, along with employees, who are the most important stakeholders, are being screwed.
For how long will we, as a society, allow this to happen?
This is corruption and theft to the extreme...

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billy_fold 12/4/2012 | 11:13:16 PM

re: Zhone Forgives Exec Loans Harry Carr is at it again. First he disappears and then his loan disappears.

-billy

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lightmaster 12/4/2012 | 11:13:13 PM

re: Zhone Forgives Exec Loans Q: Why would execs sell a company with a ton of cash to another company that has blown through $500M and is running out of money, instead of seeking something more valuable for their stockholders (for example, liquidation)?

A: $37M in on-the-side benefits for the three top execs.

Meanwhile, the DOJ continues to spend resources pursuing the evil Martha Stewart.

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techoriginol 12/4/2012 | 11:13:09 PM

re: Zhone Forgives Exec Loans Zhone / Tellium should be investigated BIG TIME to see just where the $500 million went, as well as the $150 million in surplus IPO Tellium cash (Exec payoffs). Is anyone getting screwed here? Something smells rotten? Martha Steward is small fish compared to the "stinkers" at Zhone. I'm amazed that ZHNE is in the $5.50 range. Wow!

Congratulations to Zhone for the LR top turkey award.

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