Tuesday, May 12, 2009

Stop the presses: Harary gives vote of confidence to self

Never let it be said that I never give the public what they want.

Back on April 30th REFR filed an 8-K announcing its new employment contract with Joe Harary, who is now the CEO and pretty much every other position that matters at REFR.

Maybe it's just all the medications I'm on for this cold but this doesn't spark any fresh outrage with me. Harary's salary is pretty much in the ballpark of what it's been, and the options aren't out of line with what he's been given in the past. Sure, there's the whole "the company itself has nothing to show for it" business, but that's been true forever.

Let's face it, this company has become nothing more or less than Joe Harary's little fiefdom. Since the trouncing would-be proxy fighters took a couple of years ago, there's really been no sign of any challenge to his authority.

In a couple of days I expect I will feel better, but for what ails REFR there seems to be no cure.