Hambrecht was appointed as a result of an agreement between Icahn and MOT. If Icahn has sold his position in MMI, then there is no use for him to have his man on the MMI board. That could also mean that there is no chance of a higher bid from say MSFT etc. If that is the case then share holders need to consider whether they want to keep their shares for an extra 4-5% or sell now, take 4-5% less, instead of waiting 3-6 months at the earliest and get $40/share, when the deal is complete. GOOG has till feb 2013 to complete the deal. Key question is whether Icahn is still in the game?