The consent decree between the Securities and Exchange Commission and troubled Oak Industries Inc. has hit a few snags. Federal authorities had expected the agreement--which would enjoin the company from violating various anti-fraud and record-keeping provisions of the securities laws--to be filed this month.
But Oak officials have balked at the decree’s requirement that four of Oak’s senior officials, including its president and chief financial officer, resign.
Because of the disagreement, “it could be several more months before the SEC reaches a consent agreement,” according to one federal source.
Needs No Introduction
Kaypro Corp., it would appear, has a difficult time announcing new computers.
On Monday, the hoopla surrounding the announcement of the firm’s new 286i, an “IBM AT-compatible” computer, was clouded by word that about 30 employees had been laid off because of sluggish sales.
And three weeks ago, Kaypro’s “introduction” of its new Kaypro 16 computer left observers scratching their heads because the firm had already introduced the same product in November at a computer show in Las Vegas. In addition, the Kaypro 16 has been available for purchase since Jan. 1.
Tough Study at BSD
The results of The Gail Stoorza Co.'s communications study for BSD Bancorp are not for the thin-skinned.
Last fall’s survey of 400 BSD shareholders and 18 local brokers, competitors and financial news reporters elicited some brutally frank responses about both BSD’s executives and the public perception of the bank holding company’s stock.
For example, 39% of the shareholders who responded think that BSD Bancorp is a “worse investment” than other local bank stocks. Only 16% think it is a better investment.
The study also found that the more stock investors own, the worse their opinions of the company are; 29% do not read a newspaper, and 70% of the shareholders read the financial pages but reading them has a significant negative impact on their opinion of BSD Bancorp.
On the positive side, 44% of the surveyed shareholders believe BSD will be a good investment in the future and 64% said that the firm communicates well with its investors.
That last statistic could increase: As a result of the survey, BSD shareholders now will be told of important company information--such as earnings or losses--before it appears in the press.