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Bob Evans Farms, Inc. Message Board

  • airwolf1980 airwolf1980 Sep 10, 2001 4:49 PM Flag

    The Vote to Declassify

    The vote was much closer than it looks. The vote was 42% for and 56% against. Of the 34.8 million shares outstanding 80%, or 28 million voted. 15.7 million shares were voted against declassification of the board and 12 million shares for. Of the 15.7 million against, over 8 million belong to Ariel. Without Ariel the resolution gets 60% of the vote in a big shareholder victory. Why Ariel votes against declassification I can't figure out, unless they need a few, big losing positions for tax reasons. Maybe their own BOBE to keep them humble. Next year we need to find that 20% that didn't vote and get them to cast their ballets the shareholder's way.

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