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Non-Tech : PSUN A new breakout at $30+!
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To: Mathon Dabasir who wrote (919)2/11/1999 3:51:00 PM
From: Toby Zidle  Read Replies (1) of 1622
 
But you should realize, Sir Dabasir, that boards of directors are not neutral, disinterested parties. They can feel threatened when a stranger comes on the scene. If they haven't managed their assets well and Sam's Club (to continue our earlier example) believes they can do it better, Sam's may just want to do it better. But the board can say, "that would be suicide to us; here, take your poison, Sam".

The board is not neutral in these things. A poison pill indicate defensiveness. The shareholders own the company. Major issues, such as future ownership, are best decided by the present owners, not by people who feel that their own cozy, complacent nests might be displaced.

(Note: This applies to poison pills in general. It is not intended as a disparagement of the PSUN Board specifically.)
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