By William Trent, CFA of Stock Market Beat
We noted recently that Small Cap Watch List and Mid Cap Watch List member Tempur-Pedic (TPX) is on a tear lately. Of course, with that kind of performance the management deserves a raise, and should shout about it rather than try to sneak it into a Friday afternoon (1 day after the agreement) SEC Filing.
On February 8, 2006, the Board of Directors of Tempur-Pedic International Inc. (the “Company”) approved annual salary increases for certain named executive officers of the Company (as defined in Regulation S-K, Item 402(a)(3)) other than the Company’s President and Chief Executive Officer. The Board of Directors also approved the payment of the 2006 bonuses for the executive officers pursuant to the bonus plan in place for 2006.
If they keep up the good work, shareholders will likely pay management every dime they deserve.
The author may hold a position in the securities discussed. The author’s current holdings are as follows: Long: Union Pacific (UNP) put options; Air Products (APD) put options; Nasdaq 100 (QQQQ) put options; Bookham (BKHM; Ballard Power (BLDP); Syntax Brillian (BRLC); CMGI (CMGI); Genentech (DNA); Ion Media Networks (ION); Three Five Systems (TFS); IShares Japan (EWJ); StreetTracks Gold (GLD); Starbucks (SBUX); U.S. Oil Fund (USO); Plantronics (PLT) call options; Short: Starbucks (SBUX) call options; Landstar (LSTR) put options; Plantronics (PLT) put options;
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