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Why dont the Stockholders remove Henrick?
Picklebeast
Member Posts: 273
Simple question.
Henrick has proven himself inept time and time again, ran this "company" into the ground, made tons of promises which were not kept, has been a PR nightmare, etc.
I would like to discuss why the Stockholders who are losing money daily due to the buisness practices of SV have not removed this idiot from the head of the company?
I think I know the answer, but am curious to see what everyone thinks. Looking at the stagnant sales of stock, I am almost certain Henrick and his daddy have retained 51% of the shares so that baby boy can pretend to be a big shot CEO on daddys (and shareholders) money.
-Discuss.
Comments
Buy some stock, attend the AgM, then speak with authority.
If he holds 51% then the stockholders cant force him out at all. The board of directors could though.
LOL, sorry I dont waste my money and certain failure and if give to a charity its something local which helps people do things like eat or have heat for the winter- Not enjoy weekends off in the lap of luxury laughing at my foolishness.
-Interesting point about the "Board of Directors"... Hmmmmmm... Can they not see how this company is being pillaged?
And yes, holding the greatest share of stock protects you by giving you control- But as you said...Board of directors....
This could be an i9nteresting conversation. Thanks for the reply.
EDIT: Changed a term- I said "pumped and dumper" and changed it to pillaged because that term was incorrect.
The board is Henrik, his Dad and friends.
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Ah, very interesting.
So, any Shareholders care to comment on what kind of job Henrick has done? If I had bought Stock during the first week or so it went public, how much money would I have lost per share? In fact, with the steady decline of value of SV, can anyone really say that Henrick is doing a good job at the head?
-I know a plethora of excuses will come forth from the fanboys absolving Henrick of responsibility, but in the real world any other company would have made changes from the top.
Interesting point Peckus.
Oh, well then thats out.
Shares and board members here if you're interested in that. To sum it up, he's the founder of the company and did not cede much shares to other members.
http://www.starvault.se/boardMembers.php
And here for the votes:
http://www.starvault.se/shareHolders.php
Doesn't your company need to go Public in order to even have a board?
Otherwise it's just people makeing investments in a company with no say.
Look like it is public NVM.............
"It would be awesome if you could duel your companion. Then you could solo pvp".--Thanes
WOW- Some good info there. Thanks.
So then, if you guys can remember when shareholders were forced to pay more money in or lose their % of ownership (some obscure swedish law again) which effectivly stole shares from stockholders unless they gave more $$$... The real sharteholders (i.e. the customers who "belived in SV's vision and bought shares" really had no say huh?
well its great you cleared this up, i guess the morale of story here is dont buy shares in something unless you know what your doing. I guess thats a
/thread
there are 2 types of mmo, imitators and innovaters.
Its certainly not a /thread, but I agree with everything else you have said.
Problem is, the people who did buy in to the hype and the promise (the mose avid supporters) are the ones being screwed the hardest.
Any legit company would have removed Henrick long before the stock reached 2SEK (whatever it bottomed at- Around 2 cents a share I think)
Its like Ford Motor Company bottoming stocjk at $5.00/share- They made changes and many (smart investors) made alot of money as the company turned itself around. Hell, the CEO even worked for around $1.00 a year to prove to stockholders they really wanted to fix things (could be giving the wrong amount but it was insanely low)- Here we have a CEO who lies and says he cant work weekends while bleeding OTHER PEOPLE'S money.
http://www.dailyfinance.com/2011/09/30/meg-whitman-joins-the-1-ceo-club/
WOW- looks like a ton of CEO's have went the $1.00 a year route to show investors that they will only make money on their performance and not on a guarenteed cushy salary. Even Steve Jobs of Apple (I didnt know that).
So other CEO'sin MAJOR companies are trying to show investors that their hard earned money wont just be pillaged... Henrick Nystrom is pretty much handed the CEO job and makes up lies and excuses about not being able to work weekends. Interesting that getting this company off the ground seems to mean very little to him so long as his paycheck keeps coming and his weekends are not interrupted.
maybe he knows he will be able to get more financing from his father if the company ever did finally run out of money? i mean he certainly doesnt seem to worried.
there are 2 types of mmo, imitators and innovaters.
How do you know he is not worried?? Just because he is not on the MOFO screaming he needs money? Doing the stock option he did about 4-5 months ago is a worried decision.. Have you ever run a business?? You never tell people who patronize your business you are worried that you may fail they will lose confidence in you and leave.
I have run businesses and sometimes there were lean times and I never worried in public to employees, patrons or competition. It is business 101 you do not do that.
Wow Death. I agree though, I dont think he's worried at all since he was handed the job, draws a nice Salary, refuses to work weekends and does not have his OWN money tied up.... Henrick will continue to live the "high life" even after the company goes bust because hes a rich, spoiled brat whos Father will never say "NO" to...But that isnt the point here buddy.
The point I am making is that already SV needed money badly and they forced the Stockholders to pay more or lose their % interest in SV. This was a shady move that caused the investors who were already losing their ass to inject more liquidity in this sinking ship.
What I am getting at through this thread is to try and understand why Henrick has not been removed as CEO and someone competent put at the helm.
Any honest company which has lost such a huge amount of value and had to FORCE its shareholders to give MORE $$$ already and yet is STILL on a downword trend- Any company whos CEO has been such a PR nightmare with lies and hype and such- Any company in this position would have long ago fired the head (In this case Henrick)...
Not to mention, we have the CEO of Ford, Hewlitt Packer, the former CEO of Apple and many other CEOs in succesful companies who are working for $1 a year (and I bet they work weekends) with a stipulation that they will ONLY make more per year if the company turns a profit. This is to show its shareholders and potential investors that the CEO really cares about the company, since they cannot make more than $1 a year unless the company does well...These CEO's realize that they are living on and making choices with OTHER PEOPLES MONEY.
Henrick has run this company into the ground. When wil he come forward and agree to work for $1 a year unless things are fixed- He will not, because honestly he does not care.
As I said, Henrick was given a chance to be CEO with no experience and this could have been the opportunity of a lifetime. Most people would have worked their asses off to make it work. Most people would have worked every weekend sitting by the server to reset it if need be (especially the CEO).... Henrick does not care since its not his money and he knows that once this flops Daddy will continue to fund his lifestyle... Daddy is also the reason he hasnt been removed and is being allowed to pillage the investors money and still draw a weekly paycheck.
EDIT: Also, with a publicly traded company I dont think Daddy can just "give" him more money to waste. The problem is that shares of stock represent % of ownership. This is what happened with that strange swedish law that forced investors to give more money per share they own or lose their % ownership....If Dady hands him more money, everyone holding stock has to give money at an equal % or lose value (a percent) of their ownership.
The stockholders technically could remove Henrik, but this is the way it works. Henrik has stuffed the "board" with his friends, and his father. In order to force a vote for change of leadership, the board has to elect to remove him. And simply put, they won't.
As for working for $1 a year or whatever, CEOs do this because they want to tie their performance to bonuses. Usually it's a show, like in the case of Meg Whitman for HP taking $1/year salary, the requirements for hitting the 'performance' benchmarks are so low, it's basically guaranteeing her the salary, but the marketing of it shows that she's doing it for "performance reasons".
Henrik is from what I know, an inept businessman, and lacks any merit of reasonable intelligence to make rational decisions. He's a bald faced liar who will say anything to sell people, then make up a million excuses why things aren't going the right way. This is probably true with his own board as well; you have to realize that since the majority of the money was put up by Henrik's dad, the other major investors probably don't care how the company does. A bunch of stupid people on the SV forums bought stock, and they -- as we know by SV's action towards their customers -- don't matter, and the few people who invested their own money probably invested so little that it's irrelevant.
Look at the investment numbers, and just be frank -- none of the board members has any real value in the company. Only Per Hokfelt has some value (183,000 shares = ~$6000 USD), and everybody else's barely owns $200 of stock. Mats has 8000 shares, or $265. Other "board members" have not even $200 worth. The reality is that the "board" is there for no purpose other than to rubber stamp Henrik's decisions, because it's not their money they are playing with anyway. The morons that decided to "invest" in SV as a company (especially the players) are the ones who hold most of the company other than Henrik, and since they are all small investors, they have no say in the leadership of the company either. I think Henrik's dad is also done with this venture, because he would have probably dumped some money into it by now, given how poorly they are doing. But at some point, every father has to look at his kid and say well, he really isn't the sharpest tool in the shed, and I think for Henrik's dad, that time has already come and gone. The people left with any amount of money in the company are those that are screwed, Henrik will return to his life of being a spoiled rich kid, and SV as a company won't exist. At least we can be hopeful of one thing, that anybody involved in SV won't ever have a job in the gaming industry ever again, and I see that as a good thing.
Wow Herc, you have really given some very concise points. I think you have really kind of put the whole picture together quite well. Its a shame that the only one defending SV on this thread is Deathshroud. I was really hoping some of the "shareholders" who were sold this stock in the begining would have come here to comment -
I think you are spot on- In fact, I know you are. I also suspect that there is/has been a whole lot going on behind the scenes that SV is really hoping never comes to light. I THINK perhaps things went past mere immoral buisness pratice and may have crossed the line a few times. Again, that is pure speculation on my part.
Thanks for your input.
well if i was worried i would make damn sure the features i was adding would boraden the appeal, for example concentrate on adding ingame map and fixing the issues with noobie experience like butcher npc to help new players when no butchers around etc, either ditching dark nights or finally making it work. Since the developers have made no attempt to focus on those things i consider them not to worried. They have not compromised their vision at all really since its conseption, Arguably their vision is whats prevent certain players from enjoying mo due to the severe learning curve and they have made no attempt to change. So im guessing they arent in desperation.
maybe there is some clause preventing the stockholders from commenting on a product they have invested in? also im sure they want the game to do well *shrugs*. Tbh thoguh i remember people saying they would invest in MO or soemthing in late beta but i do not personally know of anyone who actually has invested.
there are 2 types of mmo, imitators and innovaters.
I love how you equate not fixing broken features as not worried. I think it is more likely not having the ability to fix it.
LOLZ- You dont really mean this do you?
They have lost pretty much all the invested money- Stock on life support- Layed off staff.
It is funny to me that you would think that everything is going great.
well the butchery npc was in the game back in beta, i doubt it would be diffcult just to add him back in. Also how difficult could it be for them to brighten the nightime so you dont have to change gamma?
im not saying its going great whatsoever, what im saying is they do not appear to be worried or desperate to the point of compromising their own vision of the game to increase sales, something the majority of mmos eventually try to do. i keep hearing people on here saying mo will be dead by november based on their current financial situation, i honestly dont see it and would you take a bet on that?
there are 2 types of mmo, imitators and innovaters.
I would- I would say MO is dead by Jan 1 2012 though. I am pretty confident it will be dead by then (EDIT: Meaning November), but would bet on the Jan 1st date.
-That is, unless it gets sold, goes F2P or Henrick finally is removed as CEO and someone with a bit of sense who actually cares is placed at the head.
MO is pretty well finished now. If they wouldnt have forced the shareholders to pay more $$$ in a few months ago they would have been done before "Dawn" was released.... If they wouldnt have Hyped Dawn and got a uick injection of $$$ by past subs coming back for a month they would be dead in the water right now...They are trying for a Hat Trick with the promise of TC. By Christas of this year, they have either fixed the game or its over.
i think the game will live past janurary based on the TC update. More people will sub for that than dawn and it has a better chance of keeping them playing especially considering the current istuation with swg and darkfall, 2 mmo sandbox games coming to a close means people looking for something else.
there are 2 types of mmo, imitators and innovaters.
Darkfall is closing down?
Breaking news everyday around these parts =P
First I found out SV is hiring the BF3 programmers and now this... Who would have thought