WW is grasping at straws. Now he's demanding an apology for the shareholder/flea analogy but apparently he thinks it's just fine to call other shareholders "elephants."
WW is about a half a bubble off plumb, imo.
El
Walter Hewlett Comments on HP Camp Referencing HP Stockholders as 'Fleas'
PALO ALTO, Calif., March 18 /PRNewswire-FirstCall/ -- Walter B. Hewlett, on behalf of The William R. Hewlett Revocable Trust and its trustees, today made the following statement regarding the merger of Hewlett-Packard (NYSE: HWP - news) with Compaq (NYSE: CPQ - news):
In the Financial Times today, a member of the HP camp is quoted as saying
"We're winning the elephants, but we are getting eaten alive by the
fleas."
I find it shocking that anyone associated with HP's proxy solicitation
would refer to HP stockholders as "fleas", and I ask HP to issue a public
apology. Fleas are an irritation. HP may be run by its Board of
Directors and management, but at the end of the day HP is owned by all
its stockholders.
The choice of whether HP should go forward with the Compaq transaction is
an extremely important one that the law commits to HP stockholders. Each
HP stockholder has the right to speak his or her voice and deserves to be
treated with respect. And rightly so, because it is their company, not
management's. Just because so very many HP stockholders have sensibly
indicated that they think the Compaq merger is a bad idea is no
justification to insult them.
I have served as an HP director for 15 years, longer than all but one
other director currently sitting. I believe that it is a great privilege
to serve in such a position. But at the end of the day, I never forget
that as a director it is my charge to work not for myself and my
interests and not for management's interests, but for HP stockholders.
The Hewletts and Packards collectively have over 18% of HP's stock, a
stake worth over $7 billion. The rest of the HP board holds less than
3/10 of one percent. I ask that as stockholders in the final hours
decide how to vote their shares, they consider who shares the greatest
economic interest in HP -- the Hewlett and Packard(1) interests or those
who would have you approve a $25 billion mistake?
Vote the GREEN proxy card AGAINST the merger to send a vote for
stockholder value.
Last minute voting instructions. If your shares are held by a bank or broker and you have not yet voted or have voted FOR and want to change your mind, fax your GREEN proxy (or a WHITE one voting AGAINST) to 631-254-7622, attention: VOTE PROCESSING.
Remember, if you already voted a WHITE proxy for the merger and wish to change your vote - you have every legal right to do so. Fax your GREEN proxy (or a WHITE one voting AGAINST) to 631-254-7622, attention: VOTE PROCESSING.
If you are a registered stockholder holding your shares directly or a participant in HP's Employee Stock Purchase Plan (ESPP) fax your GREEN proxy to MacKenzie Partners at 212-929-0308.
If you recently received a proxy mailgram from HP management, you can use that proxy mailgram to vote AGAINST the proposed merger. Simply mark the box AGAINST and follow the directions.
If at any time, you have any questions or require assistance, simply call 800-322-2885 to be connected to a professional voting consultant. They will be available 24 hours a day until the polls close at the special meeting.
1) The Packards are not participants in the solicitation being conducted
by Walter B. Hewlett, Edwin E. van Bronkhorst and the William R.
Hewlett Revocable Trust.
For additional information, visit our website at www.votenohpcompaq.com
MacKenzie Partners, Inc.
105 Madison Avenue
New York, New York 10016
proxy@mackenziepartners.cm
(800) 322-2885 (toll-free)
(212) 929-5500 (call collect)
or visit
www.VoteNoHpCompaq.com |
