I rarely get to this board anymore, as I hold only a small number of shares these days. The SH "virtual meeting " announcement prompted me to review some virtual SH meeting information below. While some of the numbers are a few years old, and the numbers of companies holding virtual only SH meetings has increased some - it's still a very small number. With apologies to the the fishing enthusiasts on this board this decision just shows what truly gutless Bass Turds the PTSC board consists of. While getting a list of questions put together here is a good idea prior to the April 15 deadline . . . . I wouldn't have very high expectations for this BOD to actually address any of the really "tough questions". Take care & GLTAL.

According to Tim Smith, senior vice president at Walden Asset Management. In fact, virtual-only SHM's are almost unanimously considered a strong negative by nearly all shareholder advocacy & corporate governance organizations.
On the other hand, having a hybrid meeting whereby a virtual option is offered in addition to the traditional face to face meetings is strongly supported. In 2009 only 1 company held a virtual-only meeting, and in 2010 just 13. This isn't an area where PTSC should be looking to be on the cutting edge! Review the debacle virtual-only SHM held by Symantec in 2010 using Broadridge and you can understand why they reverted back to a hybrid meeting in 2011.

http://www.insideinvestorrelations.com/a...

“ . . . When – if ever – is a virtual-only meeting acceptable?”

“ . . . The answer is never, responds Tim Smith, senior vice president at Walden Asset Management, which filed resolutions against virtual-only meetings at Intel and P&G. He says institutional investors are keen on virtual meetings as an add-on to physical ones, but most don’t want virtual-only meetings – even for routine agendas. If a company starts doing virtual-only meetings, what’s to prevent it from continuing when circumstances change for the worse?”

“ . . . He adds that the Council of Institutional Investors has called virtual-only meetings poor governance practice and he expects governance ratings firms to weigh in with negative scores for companies that adopt them.”

“ . . .The annual meeting is the only time of the year when boards need to face shareholders directly and virtual meetings should not be used to insulate directors from those that they represent.”

“ . . . As we worked to feed online participants’ views into the live discussion, it dawned on me that Louria Hahn and I were probably the most powerful people at the meeting: we could prioritize, rephrase or ignore questions; we could disguise a questioner’s identity or reveal it when we weren’t supposed to. We could have made everything up."

http://irwebreport.com/20100331/virtual-...

“. . . Broadridge and the transfer agents have a poor track record of providing good online user experiences. And until directors and executives are willing to interact online with shareholders before, during and after the meetings, investors really don’t have an incentive to get involved.”