Corp-buyer .. Are you making or refuting my point that there is no need or rationale for anyone here to be involved in the formation of a group to lobby the institutions for a "no" vote on #2? As a result of their sophisticated investor status and extensive DD they are perfectly capable of deciding on how they should vote without any advice from any of us. I'm not at all concerned that the lobby will sway some institution to change their vote from what they otherwise would have made as a result of their own DD.
As you pointed out in stating that this board has sufficient votes to defeat prop 2, there is still very significant individual ownership of IDCC. The institutions recognize that with the advent of internet stock message boards the power for individual investors to potentially act more or less as a single block has increased dramatically, whether it is in their buy, sell and hold decisions or in shareholder activism activities. Now as we can certainly attest on this board, individual investors have as yet been unsuccessful in harnassing that power for their common good. But that doesn't mean it won't happen some day and the motivation to do so is certainly there for the individual investors after the damage they suffered from the rampant abuses of the late 1990s. In summary, these are not your father's individual investors and the institutions know it. After all, many of them were made to look incompetent when their returns were paltry in the late 1990s compared to those produced by the momentum players that dominated the message boards during that time.
IDCC is at a critical point in terms of our institutional ownership. Why give them any reason, no matter how small, to conclude that the lobby is indicative of a very disgruntled, large and unified (85% vs 15%) individual investor group that could be a thorn in management's side for some time to come. Can you assure me that the lobby won't give that impression to the institutions, if any, with whom they get an audience? Can you further assure me that no institution that gets that impression will not put in their buy, sell and hold decisions? Can you articulate for me the potential rewards from lobbying the institutions to offset the possible risks I and others see of doing so? TIA
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