Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.850

+1.6%

Nov 13 3:58 PM EST

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To: golden_tee who wrote (6751)	2/16/2000 6:18:00 PM
From: Kevin Podsiadlik	Read Replies (1) of 10293

Maybe you might want to look at WHY they wanted to do it and why the stockholders approved it? That doesn't take particularly deep analysis. Probably on 90% of proxy votes, 90% or more of the shareholders don't bother voting and/or vote with the board's recommendations. Only when a stock and company have been really hammered do "proxy fights" ever tend to break out, and if nothing else is true about VLNC, its shareholders have enjoyed a quite satisfactory increase in the value of their respective VLNC stakes. So it's basically a given that practically every shareholder is going to reason, hey, the board's gotten us this far, they must know what they're doing, whatever they say is fine with me, so anything the board suggested was basically a lock to get approved from the word go. Now what they'll actually do with the new authorization is another story. It could be for a secondary, it could be for an acquisition, or maybe just a stock split for promotional purposes. I don't know, and I'll worry about it if and when I ever decide to re-enter VLNC.

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