October 31, 2007
Harman's Conference Call
I just finished listening to the Harman conference call last week (access the transcript here). I was hoping that it would answer some of my still remaining questions. These include the exact internal pricing on the issued bonds to KKR et al., the propriety of a KKR board member now sitting on the Harman board, the intentions of Harman with respect to this KKR et al. investment, and the validity of settling the dispute in this manner. The number of actual analysts questions with respect to any of this? None. In fact, the analysts did not ask a single question about the settlement, the dispute or the underlying financial causes of it. That is a shame, because if I was investing in Harman these are some of the first things I would like to know. I realize it is not easy being an analyst these days, but still, you would think they would have the gumption to ask the hard questions and let Harman decide whether to respond.
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