Much ado about nothing
I did not vote on the classified board proposal because it was non-binding and management is clearly going to ignore it regardless of the outcome. You've made your points, let's move on.
IDCC is pennies off of it's all-time high (bubble excluded). The valuation is reasonable and there are still a number of catalysts out there to propel the price higher. Don't worry, be happy! Some are saying the stock is due for a pull back, causing some angst amongst the "loyal longs". I will say I sold my June 30 calls last Wed and Thursday because I didn't want to be on the clock for news. Sammy should come soon, but lacking that, history shows that a pull back should not be a surprise. It also should not be a source of concern to long term holders, just another opportunity to buy if it occurs. My wish? IDCC announces settlement with Sammy that includes a 3G license Monday. But I am keeping my expectations reasonable so if no license comes this month and the price falls to 25 I won't be upset or think the sky is falling. Look at the long term chart. When we are worried about falling to 25 that is a good thing.
I have a great deal of respect for Mr. Merritt. He's shown good leadership and excellent communication skills. He knows the industry and he knows the company. I do believe he will get the job done in time. I feel very good about my investment in IDCC. I do think it would be best if Mr. Campanga moved on. My third hand impression (from a very great distance) is that this isn't business with him, it's personal. He has some very strong opinions about how things should be and he is not open to much compromise. I think he feels he is "owed" a great deal from IDCC for his past contributions and no one, other than him and his circle of management, has any right to comment. If someone saves my life, I owe them everything, but does that mean for the rest of my life I have to give him anything he asks for? Some say yes, but I don't agree. I think he's been repaid for his contributions, including an appropriate multiplier for taking on great risk. I think retirement would be a good thing for IDCC and give Mr. Merritt some more room to get things done.
I think IDCC is in the strongest position in its history and do believe in 2010 the price will be much higher than it is today. So lower the expectations of quick news while maintaining optimism for big news.
Finally, thanks to all those that contribute so much to this board. It is an amazing resource. I am grateful for it. Thanks to everyone I am able to keep up on pertinent industry news, get almost instant analysis of IDCC news and am able to virtually attend the shareholder meetings and courtroom proceedings. There is no way I'd be invested in IDCC like I am without it. It's taking too long for me to think I'm a genius when IDCC finally reaches its full potential, but thanks to this board I will feel pretty smart, and there ain't no way I'm an idiot.
