Having done so much Hi-Tech work in the past I always keep an eye on what’s going on in Silicon Valley. So, I wasn’t surprised to read that in spite of 28 losing quarters… That’s right 28 LOSING QUARTERS… Which means losing a total of $674.5 million since going public at $256.75 a share in 2000 (Now currently selling at $1.65 a share) Avanex, a Fremont fiber-optics company has just seen six Avanex insiders sell a total of $281,074, worth of shares. OK, I know that’s chump change compared to some other insider trading, but when you haven’t made a penny in 28 quarters, you’d think they’d keep their heads down! Apparently not, as CEO Jo Major just got herself a salary increase of 20%, while laying off 20% of Avenex’s staff.
Hey, I may look like an idiot now. But once I caused pain and anguish to millions!
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