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Non-Tech : Old National Bank, Evansville, Ind.(OLDB)
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To: Bruce McGaughey who wrote (43)3/27/2000 2:50:00 PM
From: Bruce McGaughey  Read Replies (1) of 47
 
Shareholders' Meeting and Annual Report
The Annual Report asked for a vote on whether or not
to double the number of available shares.
The company claims it needs to do this to thwart any
potential take-over and to reward it's employees and
to have ammunition for future acquisitions.
As far as I'm concerned, that's all BS and I voted
against it.
Warren Buffett never did this with any of his companies.
He NEVER diluted the number of shares.
Another point, if you look at the Insider Selling list for OLDB, there are a couple of board members/executives who
regularly execute their options and then sell their shares.
Giving them more shares to play with only gives them a
bigger take every quarter.
OLDB has turned into their personal cash register.
I really don't like this.
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