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Message: Plurality vs Majority
2.Election of Directors:


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

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Apr 28, 2010 08:22PM
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