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#1
10-16-2006, 05:36 PM
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Re: Neteller\'s Director of the Board Resigns
[ QUOTE ]
95% sure neteller will be a goner, but someone else will step up. [/ QUOTE ] MagCFO can you elaborate on this? My understanding is that the banking regulations would go beyond what is actually required by the legislation if they blocked Neteller. Neteller does have the problem that it has shunned the general merchant community (charging a $1000 setup fee for merchant accounts, etc.), but Neteller is smart enough that I think they will focus their efforts to expand "legitimate commerce" uses for its service before the regs are implemented. 
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#2
10-16-2006, 05:43 PM
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Re: Neteller\'s Director of the Board Resigns
Maybe he doesn't want to be a part of a company who's nearly sole business function is a violation of US law... perhaps he actually wants to enter the US someday, and doesn't want to do so knowing he could get arrested at the gate at JFK. Maybe that makes him a pu$$y... maybe not?
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#3
10-16-2006, 05:57 PM
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Re: Neteller\'s Director of the Board Resigns
[ QUOTE ]
Maybe he doesn't want to be a part of a company who's nearly sole business function is a violation of US law... perhaps he actually wants to enter the US someday, and doesn't want to do so knowing he could get arrested at the gate at JFK. Maybe that makes him a pu$$y... maybe not? [/ QUOTE ] Government shill?
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#4
10-16-2006, 05:58 PM
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Re: Neteller\'s Director of the Board Resigns
Speculating on a silver lining.
Maybe he's resigning because Neteller plans to keep taking US gambling money, and he wants to avoid legal liability.
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#5
10-16-2006, 06:22 PM
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Re: Neteller\'s Director of the Board Resigns
Non-Executives role is an important one - essentially it is to challenge the day to day managers of a company where necessary and represent the shareholders. They are most of the main board - essentially the people the CEO needs to take with him/her. It is part time and they are expected to bring some serious experience from business to the role.
His resignation probably reflects disagreement with Nettellers response and/or his desire to be able to travel to the US for other business reasons. This is not surprising at all, if anything the surprise is it's only one. The overall effect for shareholders is a bad one though - anyone with a real heavyweight business CV will be reluctant to step in here.
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#6
10-16-2006, 06:56 PM
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Re: Neteller\'s Director of the Board Resigns
[ QUOTE ]
Non-Executives role is an important one - essentially it is to challenge the day to day managers of a company where necessary and represent the shareholders. They are most of the main board - essentially the people the CEO needs to take with him/her. It is part time and they are expected to bring some serious experience from business to the role. His resignation probably reflects disagreement with Nettellers response and/or his desire to be able to travel to the US for other business reasons. This is not surprising at all, if anything the surprise is it's only one. The overall effect for shareholders is a bad one though - anyone with a real heavyweight business CV will be reluctant to step in here. [/ QUOTE ] Absolutely, especially in light of little most directors on an executive board are compensated. The compensation may seem like a lot, but not when you look at how successful most board members are at major corporations. He probably decided it just wasn't worth the risk. I do not think it is a major issue to get concerned about, just continued fall out. Either that or he suffered a major personal loss, had a family tragedy. There are a lot of reasons he may have stepped down. It is just speculation. It is not like their entire board walked out.
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