I was about to enter my proxy ballot FOR the creation of the AT&T tracking stock. It appears that they added to the proposal a carte blanche charter revision clause. Does anyone know what this means? Only serious Longs need answer.
See following proposal.
TO APPROVE AN AMENDMENT TO AT&T'S CHARTER TO CREATE AT&T WIRELESS GROUP TRACKING STOCK AND TO AMEND OTHER PROVISIONS OF OUR CHARTER.
My answer is if you believe in the management and their judgement then vote to support them. In this day and age (with every legal eye open) I doubt if they are trying to pull a "fast one". I voted as the board suggested.
I always feel the same suspicion that you do, but that type of proposal is quite standard on most proxy ballots. One never knows, but if they are honorable folks we have nothing to fear. If anyone thinks they are not honorable folks they probably shouldn't hold the stock.