To: Sean Reilly who wrote (7668 ) 11/3/1997 12:32:00 PM From: Gary Green Read Replies (2) | Respond to of 12454
Sean: I did NOT read West's report, and do not rely on him. I have not posted anything other than what I was told by West, and that was not much. He sells to retail customers. I did not know that when I called him. I thought, from reading this thread that he controlled 10 million shares. My purpose in contacting him was to ask if he was happy with the proxy solicitation, and if not, would he throw his clout (the supposed 10 million shares) with us small owners. He said he does not control shares because GB was only the broker who sold the shares to the retail customers. He then told me I was wasting my time appealing for his help, and referred me to Joe Marcus. I said all of this before. Nothing in my posts was designed to carry water for anyone. I am interested in seeing the stock price reach a high level so I can sell it. With the meeting fast approaching, it seemed to me that if concerted action by the shareholders could impact on whether management would agree to withdraw the proposals, and not put them to a vote, we would have to organize quickly. It was not for my own personal gain that I made the suggestion that I would consider voting proxies for shareholders who could not travel to Philadelphia. Instead, I made the offer because I could hardly ask the shareholders to organize together and then say that someone else should step forward with the laboring oar. Moreover, I believe that a simple "NO" vote will get lost in the shuffle, while a sensible alternative could smoke out management's true motives, and force management to play a more shareholder-responsive tune. Remember, the only thing I actually asked for was a serious and informed discussion of our alternatives. The fact that my own motives, supposed affiliations with insiders, professional ethics and other irrelevant issues has replaced and precluded any insightful discussion of what effective steps shareholders might take to protect their investments, leads me to a greater understanding about why the CCEE management has been allowed to get away with being stupid and self-interested. This thread demonstrates how easily distracted the shareholders can become. The sinking price of the stock probably reflects the market's view that management's resolutions will be adopted. We thus far have done nothing to prevent that from happening.