Finally, some good news for shareholders of Taser International (NASDAQ:TASR). Today, a press release announced the resignation of troubled board member Bernard Kerik. He will be replaced by Judy Martz, a one-term Republican governor of Montana.
You might remember that Kerik, who promoted himself as an American Hero following 9/11, was the spark for a firestorm after President Bush nominated him to be director of Homeland Security. Ostensibly, he left because of tax and immigration problems relating to a nanny, but there were also allegations of a prison slush fund, multiple mistresses, plus a cozy and unseemly relationship with a go-nowhere "security" company that was hoping to cash in on public fears of terrorism by hawking bullet-proof glass. I bagged most of that dirty laundry here.
Clearly, this didn't look good for Taser, which had become one of the "it" companies of 2003-2004. One of the problems with becoming an overnight success is that it changes expectations accordingly. Suddenly the family biz is a star on the international stage, and everyone is watching everything.
That's why stuff like questionable behavior from a board member, big insider sales just before major market dives, sloppy investor relations, and airplane expenses really matter.
Personally, I still think the cardiac issues that overhang the stock will be cleared up. The so-called competitors? Don't make me laugh. If Kerik spooked you, this guy should have you screaming like your hair's on fire. Taser's got a huge lead in this market, and that's not likely to change any time soon. Taser shares still may not be cheap enough for me, but those more enthusiastic about this Rule Breaker might want to start a partial position here. Today's announcement looks like the start of better managing, if not better days.
For related Foolishness:
- Watch the timing at Taser.
- Worried about the "competition?" Read this, this, this, and this before you fret unduly.
- Of course, Taser's got issues of its own, including some recent unwanted buzz.
Seth Jayson offers the Taser folks a hearty golf clap for this board shuffle. At the time of publication, he had positions in no company mentioned. View his stock holdings and Fool profile here. Fool rules are here.
