Jax, that's an old joke that I can't explain here, probably poor taste on my part on a public board and did not intend to offend anyone-hopefully I didn't.
On the serious side, someone said something to me that got me thinkin. With all the institutional money vying for control here I want to relate something I observed once.
When I graduated from college I went to work for a company called Conoco. Back in 1980 that company was an embarrassment of riches, great potential huge energy reserves and sitting on a pile of cash but the stock price was just anemic at a point in time. they were sitting on a lot of canadian reserves in a subsidiary called Hudson's Bay Oil and Gas and there was a little company called Dome Petroleum wanted it. Well, they came to the executives and humbly asked if they could buy it and got brushed off, so they quietly went away and submitted an humble tender offer for a portion of Conoco's stock in hopes of exchanging that for those assets.
Well, the stockholders responded so enthusiastically to that tender offer that suddenly over 50% of the stock was tendered to 'lil Dome petroleum and all the Conoco exec's were panicked while us little people made jokes about the future Con-Dome petroleum company, which actually never came to be. Now there was a fellow named T. Boone Pickens that didn't see it as a joke at all so he got the idea of going after some larger companies' assets in the same way and had a little success, but what really happened was that it sparked a white-hot frenzy of M&A activity in the whole energy industry that made a lot of major structural changes.
Surely the BOD would be smart enough to see that this could happen here if shareholders are not fairly represented here with an EC, don't you think? I really don't think popcorn lung tort liability is much of a poison pill, do you?
