Plurality vs Majority
posted on
Apr 28, 2010 04:36PM
Director
|
Votes For
|
Votes Abstaining
and/or Against
|
||
Carlton M. Johnson, Jr.
|
47,635,901
|
43,155,665
|
||
Helmut Falk, Jr.
|
48,915,455
|
41,876,111
|
||
Gloria H. Felcyn
|
48,582,583
|
42,208,983
|
||
Donald E. Schrock
|
67,649,501
|
23,100,290
|
||
Dharmesh Mistry
|
71,319,001
|
19,472,565
|
What this latest result of the recent voting shows...at least to me, is that there is quite a lot of shareholders not wanting to put their trust in those first three BOD members.
If my proposal is on the proxy, which I doubt, but if it is, my opinion is a lot of those FOR votes were cast by many shareholders who simply did not see any use in an NAY vote assuming their votes would have no effect....or they simply didn't cast their votes.
Now give many of us the same opportunity to vote knowing that if any one BOD member doesn't get a majority vote then the they must resign...add to that the current state of affairs with PTSC and the recent failings of the BOD and I would assume many more would take an interest in making their vote count...esp. in the NAY catergory.
So it is impossible to say what any type voting would have over a PAST election when the rules for election would change...If anyone is wanting at least a way to voice displeasure and desire to replace an incumbent this is, IMO, the easiest way to accomplish this. Likewise it is also a way to show positive support too, esp. if many shareholders who didn't vote in the past would do so now to show their support of any or all candidates.
BTW...with that many NAY votes for certain directors....shows, me at least, a complete lack of support for those individuals...47.5%,46.2% and 46.4% negative votes is not exactly a feel good, warm and comfy opinion of three of our BOD members.
Like I said ...pass that by-law change and watch the increased participation in any proxy election vote...IMO, IT WILL MAKE A BIG DIFFERENCE IN THE FUTURE ELECTIONS AND HOPEFULLY MORE ATTENTIVE ACTION BY OUR BOD MEMBERS.
But don't hold your breath for it to be on the proxy in 2010.
jmho