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Holy .... NGC just took PCGS behind the woodshed!
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<p>[QUOTE="brg5658, post: 2631882, member: 29751"][USER=75984]@Cascade[/USER] ; [USER=24314]@Insider[/USER] ; [USER=66]@Conder101[/USER] ; [USER=43130]@C-B-D[/USER] ; and others...</p><p><br /></p><p>In Scott Traver's book <i>The Coin Collector's Survival Guide</i>, some information is given as to the private ownership of NGC. Heritage does not directly (as a company) own stock in NGC. However, Jim Halperin and Steve Ivy (co-chairmen of Heritage Auctions) do own around 25% (plus or minus) of <b>non-voting</b> stock in NGC. It has varied between 24% and 30% over the past 10 years. <b>Mark Salzberg owns more than 50% of NGC stock, and his shares have voting rights.</b> Thus, Mark is majority owner and can make any final decision. In April 2015, the last update in Traver's book, Jim Halperin mentioned that he and Ivy's stock percentage was around 27% (still non-voting), and that it had decreased from its 30% of a few years earlier because "<i>well deserved employee stock options had diluted his and Ivy's shares</i>".</p><p><br /></p><p>Halperin and Ivy have always owned non-voting stock in NGC, and have consistently maintained transparency (voluntary disclosure) to avoid any appearance of conflicts of interest between Heritage and NGC.[/QUOTE]</p><p><br /></p>
[QUOTE="brg5658, post: 2631882, member: 29751"][USER=75984]@Cascade[/USER] ; [USER=24314]@Insider[/USER] ; [USER=66]@Conder101[/USER] ; [USER=43130]@C-B-D[/USER] ; and others... In Scott Traver's book [I]The Coin Collector's Survival Guide[/I], some information is given as to the private ownership of NGC. Heritage does not directly (as a company) own stock in NGC. However, Jim Halperin and Steve Ivy (co-chairmen of Heritage Auctions) do own around 25% (plus or minus) of [B]non-voting[/B] stock in NGC. It has varied between 24% and 30% over the past 10 years. [B]Mark Salzberg owns more than 50% of NGC stock, and his shares have voting rights.[/B] Thus, Mark is majority owner and can make any final decision. In April 2015, the last update in Traver's book, Jim Halperin mentioned that he and Ivy's stock percentage was around 27% (still non-voting), and that it had decreased from its 30% of a few years earlier because "[I]well deserved employee stock options had diluted his and Ivy's shares[/I]". Halperin and Ivy have always owned non-voting stock in NGC, and have consistently maintained transparency (voluntary disclosure) to avoid any appearance of conflicts of interest between Heritage and NGC.[/QUOTE]
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Holy .... NGC just took PCGS behind the woodshed!
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