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An excerpt from the Sunday Post on corporate executive salaries and perks indicating that some actually were taking paycuts does not apply to my former boss, Scott Silverman.
Talking about the LARGEST paychecks, No. 3 on the list was Scott Silverman, former chairman of Delray Beach-based VeriChip. He took home $8.2 million in 2008, largely as a result of VeriChip's 2008 sale of much of the company to Stanley Works for $48 million.
This is absolutely disgusting. This is a guy who helped run this company as well as the former parent company into the ground. VeriChip stock is selling at 47 cents today and he got $8 million last year? Ask the former stockholders of the defunct parent company what they think? Ask the stockholders of VeriChip what they think. Ask some of the former employees that walked out and were left with worthless stock. Ask a former President, who after 9 months in place, resigned saying she had her reputation to think of. Ask me, someone who had to take calls from investors all over the world as Applied Digital Solutions stock was tanking and the SEC was "investigating."
This sucks as do all the others who did not walk away with some self-respect when they found out the con. The only ones who had no clue or had bigger fish to fry and couldn’t be bothered was the SEC. We already know how incapable they are at any oversight.
Greed can ruin lives. Scott, I hope you have your name programmed into Google Alerts so that you can actually read this but the trouble with crooks is that they ALL can sleep well at night.
CLICK HERE to read the article.
3 comments:
Very well written and completely true. Shareholders of ADSX, now DIGA, lost over $550,000,000 in the past 7 years, while Silverman walked away with millions. It should be criminal. I did not know VeriChip Corp. had been sold. Stanley Works really got ripped off. The VeriChip device is worthless. Dr. Halamka of Harvard says he would have his chip removed except that it is "too difficult"!
As a former shareholder in ADSX, I literally lost my kids college eduction. These people should be in jail.
Back about ten tears ago I bought about 100 shares of this and got in and out fast. Actually made a few bucks. It was the long term investor who got really hurt.
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