Aspen Insurance Holdings (NYSE: AHL) is under a proxy attack
by rival Endurance. No small wonder that
the currently entrenched management doesn't want to give up this honey
pot.
in 2013 alone CEO Christopher O'Kane earned $4,672,077. He earned just $887,085 as salary. He also garnered a whopping $1,180,577 bonus. The company was further drained by a
$2,426,680 stock award as well as $177,735 from other dribbles according to EDGAR
statements.
The board of directors headed by O'Kane recently had the
balls to title their April 17th poison pill a "shareholder rights
plan." This is clearly a nod to the
Moran v. Household International decision of the Delaware Supreme Court that
upheld a same titled "shareholder rights plan" that acted as a poison
pill.
This particular use of a poison pill by Aspen Insurance
Holdings (NYSE: AHL) is yet another example of a fat-cat entrenched board
abusing its collective power.
This is simply the truth of how the financial system works
today. Investors can only vote by
selling out.
What is very interesting is that there doesn't seem to be
much selling out of this stock. It has
continued to rise. This upward push is
exactly what put this stock on my broad watch list.
For more information check out this hangout here.

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