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Technology Stocks : (SGI) Silicon Graphics and Related Companies
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To: Clase Azul who wrote (989)10/18/2006 6:50:52 PM
From: MJ  Read Replies (1) of 1015
 
There were numerous ways that SGI could have worked with shareholders.

SGI under Bishop and McKenna and Alix Partners chose the more debt route. Instead of more debt SGI should have made an appeal to stockholders for rights, warrants, new issues, a second class of stock to avoid the "credit facilities" which is a fancy name for debt.

SGI BOD chose not to include shareholders since the December 2004 Annual Meeting-----hence there was no open discussion with shareholders, only the staged conference calls for the press and a few analysts.

SGI could have set up a stockholders committee to join the board in assessing what was needed. SGI should have set up a stockholders committee the moment they contemplated bankruptcy. (This may have been as far back as 2004 or before. )

SGI should have held and honored the 2005 Annual Meeting at which stockholders voted on a reverse split. Like Florida and the chads our votes were never counted.

These are for starters, I will leave it to you to take it from there.

mj
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