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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: umbro who wrote (81552)	6/9/2000 8:15:00 PM
From: Investor2	Respond to of 132070

Re: "As things go, is that a lot?" No. Re: "when a company's stock splits, do the additional shares have to be pre-approved by a vote of the shareholders?" Yes. Best wishes, I2

To: umbro who wrote (81552)	6/10/2000 11:42:00 AM
From: Knighty Tin	Respond to of 132070

umbro, Yes, that is a lot of shares, but they don't necessarily indicate a split. They can also be used for employee options scams, poison pills and takeovers. And, sometimes companies just like them to be in the vault just in case. The additional shares have to be approved, but the split itself does not. The directors can do the split without shareholder approval if it is equitable (they have to give everyone the same ratio of new shares). Actually, given the fact that most institutions dumbly vote their proxies with management, the Board has a lot of power. That's why I usually vote against all the turkeys. <g>