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Non-Tech : Cendant Corporation (NYSE:CD) -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (2179)	10/13/1998 7:51:00 PM
From: jjs_ynot	Read Replies (1) \| Respond to of 3627

>>> Actually, it was originally supposed to be on the ballot for the October annual meeting. CD put out the p/r about the "possible" repricing. When CD IR was contacted, they said something to the affect, "it was just a test balloon to see how shareholder's felt, and their reaction was clearly negative." Well after the "test baloon" totally crashed and burned, they simply took it off the ballot and had the BOD use the option repricing scheme on its' own. Great company - eh? <<< Don't you love a company that takes voting authority out of the hands of shareholders so that they can not act in their own self-interest. Why do the institutional holders put up with this BS?