No. of Recommendations: 8
I read your comment and was a bit confused. I am confused as to the point, which seems to be that either a) Metz screwed up and then got a big payoff for fixing the problem or b) Lacking the previous manager's capital market mistakes, the "rescue" CEO would have never had a payday like this. If the latter, I agree.

If you meant the former, I do not agree. In my mind, Adam Metz was not the one who caused the problems. He was brought in to help resolve a horrific situation caused by the previous management. He charted the course through very difficult waters and both bondholders and equity shareholders reaped the benefits. I am not sure that I would agree that the compensation was commensurate with the value of the services, but it was approved by all concerned parties and some compensation was certainly earned.

Ron
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