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Technology Stocks : Siebel Systems (SEBL) - strong buy? -- Ignore unavailable to you. Want to Upgrade?

To: muckraker71 who wrote (6686)	5/15/2003 10:30:26 PM
From: muckraker71	Read Replies (1) \| Respond to of 6974

MORE ARROGANCE. What in the hell is going on here? I think I know. Tom Siebel is legendary for his arrogance. I think it's finally catching up with him. Doesn't help that the stock is in the single digits. His personality may become an issue for the stock. Siebel backs down from Web-only annual meeting Thursday May 15, 9:56 pm ET By Lisa Baertlein SAN FRANCISCO, May 15 (Reuters) - Siebel Systems Inc. (NasdaqNM:SEBL - News) on Thursday abandoned plans to hold a Web-only shareholder meeting that would have limited investor questions after criticism that the move would have muzzled debate on the company's policies and performance. A company spokesman said the decision was made to eliminate any confusion about the access of investors to the annual meeting. When Siebel announced plans for the Web-only meeting on Wednesday, it set a deadline for receiving questions from investors two days before the event and said the online meeting would save money and increase investor access. But on Thursday, Siebel reversed course and said it had also rented a hotel for shareholders who preferred to attend and ask questions in person. Siebel's annual meeting is slated for June 11. On this year's ballot are two shareholder proposals that would require the company to tie executive stock options to performance and to expense the cost of employee share options -- a move not favored by most companies in the tech sector. Siebel's board of directors has recommended that shareholders vote no on both proposals. The software maker's heavy use of stock options has drawn fire from some investors, who say the practice has enriched company executives while diluting returns. An editorial in Silicon Valley's San Jose Mercury News called Siebel's plans for a Web-only meeting with limited questions a "slap in the face of shareholders."