Voomin@720p said:I read it, what does it say that I was not wanting to hear???
fredfa said:The more Chuck Dolan packs the Board, the more liablity he, CVC, and the Board members (as individuals) face.
That he would file this even while CVC is under SEC investigation is astounding.
He can pack the board with sycophants if he wants, like you say. BUT, if that board then proceeds to allow the Chairman to run the stock value into the ground with demonstrably wasteful spending (VOOM), THEN they are open to shareholder lawsuits.MarcelV said:He's not doing anything against the rules. he is just exercising his right. If you're a CVC stockholder, you should be aware he can do this. You may not like it, but there's nothing against it.
mdonnelly said:He can pack the board with sycophants if he wants, like you say. BUT, if that board then proceeds to allow the Chairman to run the stock value into the ground with demonstrably wasteful spending (VOOM), THEN they are open to shareholder lawsuits.
fredfa said:MarcelV:
Tell it to NY Atty Gen Spitzer, or to the WorldCom chiefs, or the Enron thieves.
In the current regulatory and legal environment there is just one word for your view: wrong.
The only way a majority stockholder can follow his own whims is to take his company private.
Otherwise he can be seen as betting other people's money on his own pet projects.
I understand that perfectly. Read my post AGAIN. What YOU don't understand, is that even though packing the board is legal, that board is subject to SEC oversight and shareholder accountability.T2K said:Appartently you are unable to understand that he owns 70% of the voting stocks...
mdonnelly said:I understand that perfectly. Read my post AGAIN. What YOU don't understand, is that even though packing the board is legal, that board is subject to SEC oversight and shareholder accountability.
None are so blind as those who will not see (you, of course. Forbes is well qualified to comment).T2k said:You just made my point again.
Then apparently it DOES matter how he stacks it.justalurker said:It doesn't matter how he stacks it. He has to find a board he can win with.
JL
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