billf921

Are SQM and DRYS Still Good Buys?

you say "I continue to be a fan of management"

How can you be a fan of management when the ceo has:

1. Given himself 1 million free shares worth 75 diluting everyshareholder 2.7 %
2. flip his ocean ridg shares to Drys and charged a 4 m "sommision" for his efforts
3. Doubled his salary.
4. Sold from his private cardiff 4 panamax to drys at an eye popping price of 100 m each
5. Locked up drys ships on long term charters to his private company at prices significantly below spot rates
6. flipped his drill ships to drys at 1.6 b when he reportly bot them for 1.3 b. (Details have never been disclosed)

He did all this in the last 6 months!! He is using DRys as his personal piggy bank and siphoned off over a billion in value, imho.

Who knows, he may be the greatest ceo in the planet but you be the judge

Sorry, I dont trust him and i sold my entire million dollar position