Taking position with private equity firm co-founded by Tagg Romney
How can I invest?
Putting all the praise into the hands of one man is kind of ridiculous. Our
culture is like that though. 1 single man doesn't build a 300 million
dollar business. That takes many hands and the right marketing. But ceo's
forget this and under-compensate the people who help build it, and
overcompensate themselves. Our current corporate society is like this. Selfish
compensation. Hopefully he can do the same with another business.
" Our current corporate society is like this. Selfish compensation.
Hopefully he can do the same with another business."Capsaicin:
huh? You condemn corporate officers for being selfish, over-compensating
themselves, not recognizing that it takes more than one person to build a
multimillion dollar company, etc. Then you say: "Hopefully, he can do the
same with another business". ?I suspect that you didn't
mean it this way, but my response is directed only at the attitude many
"non-corporation-managers" have toward those who manage and build
corporations. I have been a President/CEO of a couple of small companies, and I
can say that, in my experience, most Presidents, CEOs, and other top managers
are very aware of the importance of every employee, and the contributions they
make. If the CEO etc. has a selfish personality and abuses the trust of
employees, etc., he usually fails. I think that TV and movies have portrayed top
managers as "evil-doers" so many times, that is the image many people
have of them. It is mostly false; those leaders are highly paid, but, when you
consider how much money they bring in, they are often worth it.
One more person joins a vulture capitalism firm. This is news? Why?
That's right, Capsaicin, he doesn't deserve the praise or
compensation. He sacrificed a ton of personal time to direct the Company's
efforts, deal with all the problems, steer the strategy of a quickly growing
company, deploy the right resources at the right time, decide on the right
systems and processes, and innovate and succeed. He did the hardest job in the
Company, and he deserves to be derided and over-taxed. He should give away all
the compensation he earned, which was approved and decided by the board of
directors, to the marketing employees. (I hope the sarcasm is apparent here.)
Let's hear what you've achieved, so we can tear it down. Going from
$1,000,000 to $300,000,000 is a HUGE success story, and EXTREMELY difficult. It
made a ton of employees wealthy. Hardly any CEO's achieve this. This is
the American dream. Hard work, intelligence, having great people surround you,
and yes, some luck. I only hope he's also a great person, too, and
hasn't sacrificed his family (i.e. divorce) in pursuit of the American
Startups need cash, and those who provide it have to reckon with risk. A
symptom of stagnation in the US economy is the many trying to profit off minimal
innovation/manufacturing. It's like a deer carrying twice its weight in
ticks. Come to think of it, Tikk would be a fine nickname for a practitioner.
I once felt under-compensated, so I left my company and joined another that paid
me more. Then my old company realized my value and asked me to come back with an
even higher paycheck. Suggestion- if you truly believe you are under
compensated, ask for more money and leave if you don't get it. This guy led a successful company that saw enormous growth in a short period
of time. He deserves a lot of the credit - probably more than any other
individual except for the founder. Being a successful leader, he would probably
be the first to point out the value of the teams that worked for him, so
don't be so quick to judge him Mr. Capsaicin.
crabs always try to drag down those who actually accomplish something. Those
who are successful are that way because they work hard and contribute a lot.
Unfortunately, we have a society today of people who think they are entitled to
what those who succeed have built.
One very important fact this article fails to mention: Skullcandy went public a
year ago at a price of $21 per share. It's now selling for just a little
more than $6 per share and heading lower.
I'm man enjoy to say I am just jealous of his success. Wish I had his drive
and brains. Good for him and other like him for achieving greatness.