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Monday, February 19, 2007 10:28:35 AM
Good call on the recent shareholders letter. In fact, I planned to visit with General Dalby on the issue, just to reinforce and ensure that he fully understands that the shareholders letters are not public announcements, as they are sent to a small, focused audience. Like you, I was concerned that this one might have gone a bit too far beyond the public announcement.
In the “olden days,” when I first began the practice, I ran the first 10-15 or so by our securities counsel prior to sending them out, and any time thereafter if there was anything which I felt uncomfortable about I also had it first approved by securities counsel.
From my perspective, there were no serious transgressions here at all, as the market was closed when the letter went out.
Still around, RoseBowl
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