Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : THREE FIVE SYSTEM (TFS) - up from here? -- Ignore unavailable to you. Want to Upgrade?

To: Joe Master who wrote (1265)	4/6/1998 4:24:00 PM
From: Noblesse Oblige	Respond to of 3247

Hi Joe.... You have noted: "The job of the board is to represent the shareholders. It doesn't matter if they are from a VC or from the public the job is the same. I do not personally like Mr. Buchanan's manner of dealing with shareholders but your spiel about director compensation is not accurate. In fact they may have a lackluster board because the compensation is not enough. I personally like the board to be compensated mostly in stock options (cost the company nothing cash wise, and they are a long term incentive to get shareholder value)." ______________________________________________________________________ Joe, as a sizeable shareholder, let me say that I would be happy to pay my pro-rata portion for top-flight Board members if a few could be attracted to this company. Unfortunately, we have never had the chance to determine just what such new associations might bring to the collective shareholders, as it is intuitively obvious that "independent thinking" is not highly prized at this firm. Nevertheless, you have noted a similar assessment with regard to the way shareholders are viewed, and though you are new to this "thread"...but obviously a lurker with some familiarity vis-a-vis TFS governance issues...we hope that you will vote your own shares in such a way as to note for management your assessment of its performance over the last four or five years. Have a good afternoon.

To: Joe Master who wrote (1265)	4/6/1998 9:11:00 PM
From: michael c. dodge	Read Replies (2) \| Respond to of 3247

Joe......Gee, I edited my post three or four times, toning it down. $20,000 for four one-day meetings a year, plus all-expense paid travel to Scottsdale, plus 500 warrants, is pretty rich for a company with a market cap of $150M. Neither you nor I (nor any other outside shareholder of whom I am aware) have attended a TFS Board meeting. (None of us is likely to be invited, either !!!) I am presuming from my participation on other boards; public, private, commercial, and charitable. I certainly agree that the job of the board is to represent the shareholders. It doesn't matter if they are from a VC or from the public, the job is the same. Agreed. How they do the job, is different. The VC and institutional representatives have to go back to their own managements, and report. They are held personally responsible for the success or failure of their investment....they ask the hard questions, and they take the management to task when needed. I have seen it and listened to it. Maybe we have someone like that on this board of directors. Maybe we do not. Joe, its not personal. I want them to make the effort on shareholder value. They are not making it today. I have changed my votes on Items 1 and 2 of the Proxy response. This will be my last post on the topic of TFS shareholder value and corporate governance.