gman1962 .. I have always contended that the "non-binding" aspect leaves the BOD with a "Hobson's choice .. if they choose not to be bound by the vote, Corp and his gang will offer that as proof positive that the BOD is not aligned with shareholder's interests and they will use this board as their bully pulpit yet again while they concurrently stir up support for a shareholder revolt behind the scenes, particularly with the institutions. Of course, if the BOD chooses to be bound by the vote Corp, et al will have a year to put together a slate of takeover friendly Directors to oppose those coming up for election who they will no doubt constantly bash 24/7 during the next twelve months.
Given the fervency with which these folks have pursued this agenda for over two years, I highly doubt that any degree of company success during this period will deter them from their objective of stacking the BOD with individuals sympathetic to their views. There is no way they can do that without significantly calling into question the performance of the current BOD members and management team. Call me crazy but IMO I can't possibly see how that can have a positive effect on the stock price during the next twelve months and the negative drag on the stock could be considerable. "Shareholder activism" .. ain't it just grand?
Regards,
Danny
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