RE: Shareholder's lament......Ogo**7"If the CD AGM is anything like the MTX AGM, # of shares owned means FA. Proxies mailed in mean FA."
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They MEAN "FA" when not enough people take the TIME to VOTE. When they (the co. and not just this one) know they have it in the bag before the formal vote takes place, they might go through a "Kangaroo" type vote as you described, a nonchalant type of formality.
All that happens because of Shareholder APATHY. And it appears from your commentary to be in their (the co.'s)BEST interest to keep that APTHETIC mindset going, to keep saying that VOTES don't matter especially from the non-inside crowd. You wanna bet? I attended a meeting where a Chairman was reduced tp stammering and stuttering in a room full of "suits" when a bunch of shareholders had enough and shed their apathy and VOTED "nyet" to some motions. The motion passed BUT "the message" was sent and will be sent again if required.
That's the problem. Companies of every stripe count on shareholder apathy and lack of empowerment so that they can do what they want. AND if you FAIL to fill in the APPOINTEE Box/Space, they can and do use your BLOCK of shares in case it comes to a show of hands vote. They CAN NOT USE your BLOCK if you have provided an APPOINTEE. So obviously, when NO ONE provides an APPOINTEE, those BLOCKS of shares can be voted by the Company APPOINTEES because they become the APPOINTEE by Default. And then they vote those shares to suit their own purposes. So stop DEFAULTING and I think this nonchalant attitude will diminish.
And BTW, this is not to say these guys aren't doing/didn't do the best they could under the circumstances. BUT, you know as well as I do, in any democratic process, good government comes about when power is NOT assured. It comes about when extra effort and diligence is required to make good performance happen. It just seems to be human nature and none of us are exempt.
LB