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real estate investor
  • Fidelity National Financial's excessive compensation & conflicts

    Chairman Bill Foley has taken hundreds of millions of dollars out of this company while spending most of his time attending to his wineries (foleywines.com), restaurant chains (Miambo Italian, McKenzie Pizza Co.), his cattle co.(Creek Cattle Co.), his aviation facility (Glacier Jet Center) and his 90,000 acre ski, golf, hotel and luxury home real estate development (Rock Creek, Montana). All these businesses are owned by Mr. Foley personally, not FNF.

    This excessive compensation and lack of committed time to FNF is coming at a time when the company lost money in the 1st quarter, cut its dividend in half, and raised new capital by dilluting existing shareholders. Was this new capital used to pay Mr. Foley?  Now the stock price is dropping and commercial real estate will be the next shoe to drop. Not good for the title business. In this difficult economy, FNF and Mr. Foley should be especially focused on the title insurance business and not distracted by all these other activities. Long FNF

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    Tags: FNF, Fidelity National Financial, Inc.
    May 22 05:03 pm | Link | Comment!
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