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Technology Stocks : Zenith - One and Only
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To: dch who wrote (6298)9/25/1999 11:45:00 AM
From: MJ  Read Replies (1) of 6570
 
dch

I am not a legal expert, just an ordinary stockholdr. I do have a reasonable amount of experience in my adult life which I can logically apply to this.

Confidentiality does what Bob Utne referred to----it makes it so the Committee or anyone who agrees to confidentaility cannot talk about a question or issue. That means that the truth can be known but not talked about.

Sometimes confidentiality is agreed to in order for one party to obtain a solution which is not the best solution---only a partial solution.

Somewhere along the way I recall hearing that letting a Committee be formed would give the appearance of fairness in these proceedings. LGE can then say "Oh we were fair. We gave you the Committee so the common shareholders can be heard." Then the Committee is heard and then is ignored.

One of my areas of expertise is local politics. In local politics the Dems and Repub. regularly argue over Fair Campaign Practices and want a Committee made up of representatives from both parties to monitor campaign practices, allegations, fundraising, who said what about whom. Request for the Fair Campaign Committee often comes from the party that has an agenda in knocking down the other parties candidates.

And, then the media becomes involved----highlighting allegations and why this need for this committee.
Sometimes the ploy for the formation of a Fair Campaign Committee works and sometimes it doesn't. Ultimately, the voters make the decision on election day.

In the Zenith case------we the voters "the ordinary, minority shareholders" will not get to vote at the polls. The bankruptcy filing has eliminated any vote by the minority.

Parliamentary procedure was originally designed to protect the rights of the minority as has the legal system in the United States been designed to do so.

I am hopeful that the honorable judge will see the efficacy of protecting the rights of the minority shareholders and workers by giving us a ruling which will recognize the rights of the minority to share in the largess of Zenith's technology which is obviously coming to fruition.

Thanks, again Robert Utne.

mj
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