Letter from George Mitchell

[tigsmom]

Not long ago on saveDisney.com Roy asked us to write a letter to Mr. Mitchell expressing our concerns. I received and answer today...a form letter, but an answer just the same. Has anyone else received one? I wonder if the pressure is starting to be turned up?

 

[Shaman]

Originally posted by tigsmom
Not long ago on saveDisney.com Roy asked us to write a letter to Mr. Mitchell expressing our concerns. I received and answer today...a form letter, but an answer just the same. Has anyone else received one? I wonder if the pressure is starting to be turned up?

I haven't received an answer....it should be interesting to see what they say....all I know is that the clock is ticking and soon it will be judgement day for Eisner and friends....

 

[tigsmom]

Here it is if you want to read it all....

From : Mitchell, George <George.Mitchell@disney.com>
Sent : Thursday, February 26, 2004 5:29 AM
Subject : The Walt Disney Company

Thank you for your recent email. I appreciate your taking the time to communicate your views, which are an important contribution to the Board's understanding of shareholder concerns.

While it would be inappropriate for me to respond to you directly during the pendency of The Walt Disney Company's current proxy solicitation, I hope you will take the opportunity to review the materials contained in the Company's proxy statement and most recent annual report, as well as the letter dated February 9, 2004, sent by the Board of Directors to Company shareholders, a copy of which can be accessed at http://www.sec.gov/Archives/edgar/data/1001039/000100103904000017/shareholderltr14a_2-04.htm.

Very truly yours,

George J. Mitchell

***Just checked the link...it won't work here. Its a page from the annual report saying how well the company is doing.

 

[Shaman]

Originally posted by tigsmom
Its a page from the annual report saying how well the company is doing.

I agree....:hurl:

Why don't they just let the records speak for themselves...if the company was doing soooo good then why are Roy and Stan suddenly doing better than expected with their movement?

:sohappy: :wave:

 

[Stitch79]

Yup, I recieved that letter a couple weeks ago. Just sent it right to the trash folder

 

[jrriddle]

Just got it today.
Yup right in the trash

 

[tigsmom]

Thats where mine went, too. :lol:

 

[jrriddle]

Anyone see this today?


NY State to Oppose Disney's Eisner -CNBC
Thu Feb 26, 2004 02:31 PM ET

LOS ANGELES (Reuters) - New York State plans to vote its pension fund shares against reelecting Walt Disney Co. Chief Executive Michael Eisner to the board of directors at the shareholders meeting on March 3, CNBC reported on Thursday.
New York would join California in opposing Eisner. The California Public Employees Retirement System, the nation's largest public pension fund known as Calpers, on Wednesday said it would withhold voting to reelect Eisner, who is chairman of the Disney board. Calpers also opposes the three board members on the audit committee.

CNBC reported that New York State Comptroller Alan Hevesi plans to withhold the state's pension fund shares from voting to reelect Eisner.

As of the end of 2003, the New York State Common Retirement System had 8.7 million Disney shares and the New York State Teachers Retirement System had an additional 8.8 million shares, together representing about an 0.8 percent stake in Disney.

Calpers owns 9.9 million Disney shares, or about a 0.5 percent stake.

Dissident shareholders Roy Disney, 74, the nephew of company founder Walt Disney and Stanley Gold launched the protest campaign against Eisner after Disney, a prominent critic of Eisner, was forced to retire from the board. Gold subsequently resigned from the board.

Since there are no alternative candidates to the board's own slate, Eisner and the other directors are certain to keep their positions, but if a sizable number of shareholder votes are withheld, that could pressure the board to make changes.

Gold and Disney have said they hope that 20 percent of shareholders will oppose Eisner, who has been chairman of the entertainment conglomerate for almost 20 years. A 35-percent or higher protest vote would also meet a proposed regulatory threshold that would let dissidents propose alternate board members next year.

Shares of Disney were up 50 cents, or 1.9 percent, to $26.80 in afternoon trade on the New York Stock Exchange.