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Non-Tech : Cendant Corporation (NYSE:CD)

CD 5.510

0.0%

Dec 18 3:59 PM EST

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To: jjs_ynot who wrote (2168)	10/13/1998 7:46:00 PM
From: Benkea	Read Replies (1) of 3627

Hey Dave: "There was no proxy statement. CD management didn't have the guts to put the option repricing to a shareholder vote." Actually, it was originally supposed to be on the ballot for the October annual meeting. CD put out the p/r about the "possible" repricing. When CD IR was contacted, they said something to the affect, "it was just a test balloon to see how shareholder's felt, and their reaction was clearly negative." Well after the "test baloon" totally crashed and burned, they simply took it off the ballot and had the BOD use the option repricing scheme on its' own. Great company - eh?

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