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CLRS Message Board

  • confucius550 confucius550 May 7, 2002 8:04 PM Flag

    Shareholders Meeting? Date/Time?

    Has the meeting date/location/time been announced yet?

    Still am awaiting my proxy info. My guess is that they are waiting until the very last minute to distribute.

    Three seats won't really make that big of an immediate difference in terms of management changes and business strategy. Execs have too much influence over remaining members.

    Hostility within the BOD rearly produces positive results (look at HP).

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    • The three seats are important for two reasons:

      1) With the anti-shareholder staggered board you have to run slates for two years to get control. It is irritating, but if you don't get the first three seats you will never wrest control from those currently feeding at the trough.

      2) With even one seat you have the ability to monitor what is going on and blow the whistle when you see something wrong. When it is just management's pals and yes-men on the board you cannot know what is going on. It is amazing how much better behaved management is once they know they are being watched. Yes, they can jam through what they want but the light of day will be on it.

    • The shareholder meeting will be on Tuesday May 21, 2002 at 09:00 AM, at the Hilton Garden Inn in Alpharetta, GA.

      As to the 3 seats only, I would think that one cannot ignore it. First, all of us will need to see the percentage of shareholders who will vote period, and in which direction. If Kanders wins by a significant majority, then he should not have any difficulties in convincing any of the other 3 " independent ? " board members. At some point these guys will realize or it might be pointed out to them, that they have a fiduciary responsibility to the shareholders. It will take only one of the 3, then Kanders can appoint a new chairman as well as new officers.

      JMHO, as always.