"Votes withheld from any director
are counted for purposes of determining the presence
or absence of a quorum, but have no other legal
effect under Delaware law."
If you want to
create chaos, enter someone in nomination as a director
then invoke "cumulative voting." You can make a
difference with far less than 50% shareholder vote. Good
luck next time.
Same as any other domain.
Keep in mind I'm just a passerby on STK initally drawn to the chatroom by my strong corporate governance bent and your activism. I hope others with other companies learn from your example and realize that shareholders are indeed the "owners" and are not totally powerless, though most act like they are.
-bakka, aka chaos
I am not familar with E-Mail using YAHOO. .
I would like very much to talk to you. If you would give me exact instructions on how to E-Mail you via YAHOO I will do so. On the other hand if you want to E-Mail me my address is LICHT6@HOME.COM.
If you want we can talk on the telephone either I can call you or you can call me which ever you want to do
As of now my wife is still trying to peal me off the ceiling, I have been floating since I receive the results of the voting.
Do you think that PM, our STUDENT TRAINEE CEO will be concerned about the election but continue as before because he dose not know how to respond?
EVERY LITTLE BIT HELPS.
What would it
cost you to vote for my proposal as opposed to siting
back and doing nothing.
What is important is
the number of people that vote and the percentage of
the total number of stockholders. If all of the 8
fundmanagers vote with management that would represent
approximately 85% of the outstanding stock. But if 60 or 70% of
the individual stockholders vote for my it will send
a strong message to management.
make a big difference in which way I vote, but it
sounds like you have more of a long term interest in the
company then the present board. I don't know what to say
other than good luck with your campaign. I hope the
board has more than just their own interest in mind
when running this company.
The reason is that STK's
By-laws do not permit "CUMULATIVE VOTING. In order to
invoke cumulative voting you must first change the
We can not get rid of one board member
do you really think that you can get the By-laws
changed to permit cumulative voting without the support
of the fund managers.
Why don't you consider
voting for my stockholder proposal. If I get enough
votes it may get the attention of these bozos and then
we may get some meaningful change. It is a lot
better than bitching and doing nothing.
I mistakenly was looking at another company's
proxy which allowed it.
I think in Delaware it
would require a change to both the bylaws and inc.
cert. Your proposal is interesting. There is value in
forcing focus and STK has been very successful when
required to do this in the past. Still, I think this will
not get institutional support and institutions are
very inclined to support things such as poison pill
removal and cumulative voting proposals. These might be
opportunities if you are not successful with this proposal.