I never knew this: Shareholders can select management!

[civileng68]

I did not know this until today...................but in a USA Today article about Eisner, it mentions his current situation with shareholders.

http://www.usatoday.com/money/media/2004-02-29-disney-cover_x.htm


Many people on here are worried that if Eisner is booted that they dont know who will be the next to rule the company.

well according to this article. if more than 35% of the vote is withheld (which is looking more and more possible considering the companies against now are falling from the sky to vote no) then the Shareholders are able to approve the new management.

I just read this article and the numbers against are now literally incredible. I never thought it would get this big against him. It's really something to see the numbers.

 

[LadyDarling]

Good idea/Bad idea

This can be a good, and a bad thing. I am a shareholder - so I keep my eyes in this!

Good thing - New management with fresh perspectives and new, more innovative ideas.

Bad Thing - MANY share holders are only concerned with thier money and not the disney legacy. It has been rumored that Comcast is trying to make a play for the shareholders (who can over-rule the board), and buy up the company through the back door.

As for me -
well, all I can say is I'M NOT SELLING!
~J.Darling

 

[cherrynegra]

Yeah, everything I've read so far seems to indicate numbers in the 30% range, but I wouldn't trust those numbers like I wouldn't trust poll numbers before an election. It ain't over till it's over. I have a sinking suspicion that Barry Diller will play a key role this week. I could be crazy, but I wouldn't be surprised if he wound up in the final equation only because his name keeps appearing in the what-if scenarios I've seen.

 

[Becky]

Originally posted by civileng68


well according to this article. if more than 35% of the vote is withheld (which is looking more and more possible considering the companies against now are falling from the sky to vote no) then the Shareholders are able to approve the new management.

Um, no. It didn't say that.

It said " Under a proposal before the Securities and Exchange Commission". In other words it is a thought and not an action.

 

[tigsmom]

You get to approve not pick the next CEO. Thats what voting for the board is all about. Its really just a formality for small stockholders because its the big industrial holders (Mutual finds, etc) who have the real clout.

 

[civileng68]

?

pick/choose, makes no difference, if it's more than 35% the board can pick whomever they wish and if the stockholders disagree, it won't happen. Don't you guys realize how much power stockholders have. There's no way Disney wants it stock holders to sale.

 

[jmarc63]

Originally posted by civileng68
I did not know this until today...................but in a USA Today article about Eisner, it mentions his current situation with shareholders.

http://www.usatoday.com/money/media/2004-02-29-disney-cover_x.htm


Many people on here are worried that if Eisner is booted that they dont know who will be the next to rule the company.

well according to this article. if more than 35% of the vote is withheld (which is looking more and more possible considering the companies against now are falling from the sky to vote no) then the Shareholders are able to approve the new management.

I just read this article and the numbers against are now literally incredible. I never thought it would get this big against him. It's really something to see the numbers.

Sounds to me , you either don't own Disney Stock or you never read you proxy statment and ballot with the year end report every january, If you had then you would know that the officers of the company are voted on by the Stockholders thats is how you get a hostile takeovers happen