Free

A former Joint Chiefs to the rescue…

images5.jpegIt’s been exactly six months since we last checked in with SM&A (WINS). During that time, the stock has declined 21%. But judging by this 8K filed late yesterday and the corresponding press release from last week, the company has a plan.

Enter Peter Pace, the former Joint Chiefs of Staff, who will be president and CEO of SM&A Strategic Advisors, a new business unit that the release says will “be responsible for supporting SM&A’s initiatives by building thought-leadership and business intelligence capabilities for our existing and expanding markets.”

We’re not quite sure exactly what that means, but no bother. It pays $300K a year, which is pretty nice given the fact that Pace “shall not be obligated to work full time for the Company”, according to the employment agreement attached to yesterday’s filing. There’s also a $240K signing bonus and 100,000 options, 25,000 of which vested immediately. The company, which is based in Newport Beach, Ca. will also open an office in McLean, Va. for Pace.

The face that the CEO job doesn’t require Pace’s full-time attention should be good news for AE Biofuels (AEBF.OB), which at the end of November, agreed to pay Pace $100K a year to serve as a consultant.

Please take the footnoted.org 2008 reader survey if you haven’t already done so. Your important feedback will help me make the site better in 2008.