Globalstar Memorial Day Massacre Message Board

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Technology Stocks : Globalstar Memorial Day Massacre

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To: UncleverName who wrote (318)	6/26/2000 8:21:00 PM
From: Mama Bear	Read Replies (1) of 543

"Mama Bear or someone in the know, would you be so good as to explain to me how this shorting works with regards to voting at shareholders meetings? " The owner of the shares that lent them out loses his voting privileges as I understand it. This is usually unimportant due to voter apathy. I was amazed to hear that 43% of AOL shareholders voted 'no' to the TWX merger just by not bothering. Of course what amazed me was that the default vote was no...usually it's what the BOD recommends. "But the margin was actually closer among AOL stockholders--proxies representing 43 percent of the shares were not returned and thus were counted as "no" votes." washingtonpost.com "If 30M shares are borrowed and sold... just where are those certificates? Probably sitting in the same place they were before they were borrowed, the Depository Trust Corporation vault. You are correct that the float has been increased by the number of shares short. Regards, Barb

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