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Tuesday, June 10, 2003 1:14:08 AM
(1) "when I wrote my report..." - First, let me say that your suggestions for improvement in the PR by the company i.e. your shareholder activism at the time were widely supported and greatly appreciated. Such shareholder activism was and should be welcomed, IMO. You would do it again in the same circumstances, right? I hope so.
(2) "There was not one aspect of shareholder communications that deserved a grade above 'D' ... Surely, ... there has been at least a one grade improvement across the board since then ..." - Yes, there has been some improvement, especially in the CC, the website, and annual report document. But, now that Ericy is behind us, I truly expected much more PR about patents, development programs with customers, articles, etc. that have not yet materialized. Perhaps they will soon. I know they will when management is finally ready to drive the share price. Apparently it will be within the next 12 months, based on the timing of NOK and Goldberg's ISO exercise and HOLD. As for grading the company PR, unfortunately, the ratio of Form 4s to voluntary company PRs is still far above 1:1 (probably closer to 10:1). IMO, I would like to see the company issue more voluntary communications than Form 4s to deserve an 'A' grade.
(3) "I was wrong about prop #2 and have so stated at least twice. It was defeated and it should have been." - WOW, I just read this for the first time and I admire you for changing your opinion.
(4) "not ... acceptable .. that .. dissatisfaction with management ... be expressed in ... insulting terms" - Agreed, if we criticize management, we should at least do it respectfully. (not sure that came out quite right - LOL)
(5) "Can we continue to critque management, pro and con, but solely for the purpose of making a buy, hold or sell decision rather than as the basis for some organized effort to make changes at IDCC?" - If shareholder activism is intended in the same spirit of improvement as was your report, then don't you agree we should at least consider such proposals, once we have all the information?
Regards,
Corp_Buyer
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