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Non-Tech : Simula (SMU)
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To: Jacob Lewin who wrote (1371)9/3/1998 11:14:00 AM
From: Noblesse Oblige  Read Replies (1) of 1671
 
Hi Jacob...

Or should I say, sonny boy? <G>

This new policy is an error. Unfortunately, it makes it look as though management doesn't want to be accountable to shareholders (in a public forum) for its performance. What it does is reduce the number of "live" contacts from five a year (four calls plus an annual meeting) to merely one.

The internet and chat lines certainly can be dangerous, but it is the wave of the future, and for a company to think it can control them is just plain silly. It makes more sense to use it than to wastefully attempt to control it.

I think this decision is unfortunate, and if it has been made because of one or two conference calls and short-seller participation, it is particularly short sighted. Though I am a long, I can see no justification for insulating management from penetrating questions or comments. The last conference call included participation from a short seller (which was obvious to everyone who was listening), but his inclusion is the price all of us have to pay to get real-time interactive communication from all shareholders to the management (and vice versa!).

That is an important part of the responsibilities of a sizeable public company, and that is why I find this new policy to be unfortunate.

Have a good day.
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