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A warm welcome at Choice Hotels…

Tuesday, May 6th, 2008

It must be nice to get a raise before you even start your job. Congratulations to Stephen P. Joyce, who received one the day before his official arrival at Choice Hotels International (CHH). 
Back in March, Choice announced that Joyce would become President and COO starting May 1. (He’ll ascend in October to the CEO post, [...]

Another sour merger…

Thursday, April 24th, 2008

Sometimes, a disclosure in a recent filing prompts you to dig a bit deeper and look back. That’s exactly what happened when I caught the following disclosure in Brandywine’s (BDN) proxy filed yesterday:
Represents (i) $516,685 for the cost for use of a private aircraft that we provide to Mr. Prentiss as a continuing benefit under [...]

Why won’t Choice’s directors stay at their hotels?

Wednesday, April 9th, 2008

Last week, Choice Hotels (CHH) filed this proxy and unlike a lot of directors who tend to take to company freebies like pigs at the trough — Al Gore’s use of Apple (AAPL) products is just one example — there’s plenty of room at the inn that Choice directors aren’t using.
The giveaways, which are [...]

Complexities at Callaway Golf…

Monday, April 7th, 2008

We seem to be honoring the sport of golf today at footnoted, although that’s not particularly unusual around here.
In its proxy filed Friday, Callaway Golf (ELY) explained that the “complexity and competitiveness” of its business necessitates paying “above median compensation” so it can attract executives with sufficient smarts. (Yes, theirs is a complex business. Take [...]

Are Trimas execs spending too much time on the links?

Monday, April 7th, 2008

Last May, Trimas (TRS) went public at $11 a share. By October, the stock was trading at $16, which clearly made it a successful IPO. But in November, things started going down hill and they’ve been going in that direction ever since: the stock has lost nearly 2/3 since then, even though there hasn’t been [...]