interesting post about the performance bonus MG and executives and board got

Anonymous

Guest
Re: CELG..!!! the damn stock was trading at $14 ++ when JJ took over....should be worth alot more....it does have a ground breaking platform technology.. JMHO.. EOM

"I don't know how JJ will turn out, but you sure can't lay the decline from $14 at his feet. Stock was trading at $14 only because Gold was channel stuffing with the bs disclosure in early January where he spoke of the huge revenue jump without telling anyone that he had moved revenue from q1 2012 to q4 2011.

You are out of line to suggest that the $14 was a ligit price when the marketplace wasn't aware of the former CEO's deception which had nothing to do with the next CEO."
 


















post is from investors village. i agree with you about yahoo...

what do you have against the contents of the post?

the original post compliments provenge. the response to the original post takes blame away from JJ (current CEO) about he fall from 14 to 6. did something bother you about the message of the post besides the spelling error?
 






"I don't know how JJ will turn out, but you sure can't lay the decline from $14 at his feet. Stock was trading at $14 only because Gold was channel stuffing with the bs disclosure in early January where he spoke of the huge revenue jump without telling anyone that he had moved revenue from q1 2012 to q4 2011.

Agree with this post from the IV board. It is absolutely disgusting that all of the current BOD and EC accepted this bonus knowing that some revenues were moved from 2012 back to 2011. One of the most disgusting things I have heard of from a company. The company went from 35 to 6 during calendar year 2011. None of those animals thought a performance bonus was inappropriate, particularly when some revenues from 2012 were moved to 2011? Disgusting....
 






Agree with this post from the IV board. It is absolutely disgusting that all of the current BOD and EC accepted this bonus knowing that some revenues were moved from 2012 back to 2011. One of the most disgusting things I have heard of from a company. The company went from 35 to 6 during calendar year 2011. None of those animals thought a performance bonus was inappropriate, particularly when some revenues from 2012 were moved to 2011? Disgusting....

When you have SVP HR participating in the bonus program and receiving $$$$$$$$, no brainer that no one will turn the #$$$$$$$$ down.
 






When you have SVP HR participating in the bonus program and receiving $$$$$$$$, no brainer that no one will turn the #$$$$$$$$ down.

You mean no one has any sense of decency anymore? Shareholders went from 35 to 6 or 7 in 2011, bond holders went from par to about 65 cents on the dollar in 2011 and wealthy people like susan bayh took the bonus that was manipulated by revenues being moved from 2012 to 2011? We know MG arranged all of this for himself but why would Susan Bayh and the rest of them take it? Again, this is truly disgusting.

This is why in addition to the regular class action suits there are derivative suits on behalf of dendreon to get money back from people like gold back to the company. Sadly DNDN wont join and cooperate with these suits because they are protecting their own and have a lot to hide.
 






from yahoo:

"Dr.Gold wanted to go out looking like a winner AND steal another 460,000 free stock options. can't believe he got away with that haul. the Q4 earnings pre-announcement timing also gave him the spotlight to say "look what I did" after he'd previously withdrawn guidance and fired hundreds of workers."

neurologically his wires have to be as crossed up as anyone else who commits any type of horrible crimes. his synapse misfires probably just happen to affect greed and bravado. it's so strange that his crimes are so brazen. its almost like his mental illness makes him think he can do anything and think he is smarter than people and can get away with anything. The real world is mostly people that don't live in a haze of psychosis like he does and see that his crimes are incredibly stupid and transparent.
 












from yahoo:

"selective disclosure and omission of material facts regarding Q1 revenues being pulled forward into Q4 and the associated impact on Q1 guidance."

and the impact on the performance bonus of 460M free shares for Gold and free shares for rest of EC and board.
 






more from yahoo: (there is actually some signs of intelligence there lately)

"yeah, and once we found out growth in Q1 would drop from the 25% growth experienced in Q4 down to 'low single digits' the stock began it's "poop-back" to December price levels.

how Dr.Gold could ever pre-release Q4 revenues and not disclose the massive dropoff in January bookings is unbelievable. Dr.Gold's actions (which netted him 460,000 more free stock options) transferred all the market's mistrust in DNDN to Johnson and nullified any positive effect of Gold's departure as CEO. JJ should have demanded his contract be revised and his $13.58 stock options immediately repriced to $7"
 












even more:

"I have no doubt whatsoever that Gold and his cronies 6-Jun-12 04:26 am will be forced out by major shareholders, with the former possibly serving some times in prison for corporate abuse and accounting fraud. With that said, what is important here, would they be kicked out when there is still time to salvage what is left of this Company? If not, they will be The Final Nail In The Coffin of Dendreon!"
 












new respect for yahoo:

"When you are chairman and you sell that many shares to your shareholders, it's more than luck.

He's laughing all the way to the bank. I wonder if he's at one of his mansions or one of his yachts today? Living the good life. Thanks DNDN shareholders. You have his worthless paper and he has your cash."
 






yahoo people not too happy with Gold:

"Just hire John Johnson. Put him in the role and you will see instant erosion of your co's value.

Never seen a CEO drop a company faster. This isn't the abyss, this is below it...

Stick a fork in it. Throw Gold in jail. Fire Johnson that lame excuse for a CEO and just end this co's life."
 






from yahoo:

"He sells his stock to his shareholders at $50, makes $100 million, then puts Johnson in control so he can fade into the background.

Good job Maddoff, I mean Gold........."
 






more surprising intelligence on yahoo:

"Dr.Gold doomed the future so he could falsely hype an incredible demand for the product. his plant overbuild and absolutely horrible design of the manufacture process killed the lead advantage. Provenge is dead as a 1st generation product and like most 1st generation products (e.g. iPhone v1) are eventually replaced by better ones. it didn't help that they botched the trials with Frovenge and now cannot claim more than 4.8 months survival. within 2-years this company will be truly obsolete and losing accounts. they already lost the bigger post-chemo market and in 6-months will lose patients in pre-chemo market as well, just watch & compare sales with Zytiga. hate it or not, Zytiga is winning... 17,000+ active (paying) patients is proof they are a competitive threat."
 






yahoo is really on to those 460M stolen shares--

"Dr.Gold falsely inflated the stock from $7 to $17 with his partial Q4 earnings pre-announcement designed to hide the gift of 460,000 more free stock options.

Johnson merely got saddled with the truth of Q4 and Q1 earnings.

blam the right person, Dr.Gold"
 






from Investors Village

"I think at worse, and what I fully expect, is that there is going to be a loud CA filed against DNDN for what was clearly channel-stuffing to meet a pump and dump q4 pre-announcement. Much related to this stock will remain toxic for as long as Gold is around. That dude screwed the pooch like no one has ever screwed the pooch! There will be some multi-million dollar settlements still to be sucked out of DNDN shareholders."