Spider, it's no longer a secret to anybody reading here that Mike Cohen(aka "Corp_Buyer"), is an investment banker employed by a firm which buys and sells businesses the same way real estate agents buy and sell houses and land.
You still with me? He makes a living helping big companies buy little companies, and the reason big companies want to do that is to make money. The reason HE works hard every day to help big companies do that is because(bet you can guess the next part,...),... Right! HE makes a really sweet commission! Think about millions of $ per transaction. (BTW and OT - Only job I would want if I was 20 again is investment banker. Might even "be like Mike". LOL!)
He, and all of the other investment bankers, had some big problems in getting the "listing" to start selling InterDigital to somebody. First, Harry is the guy making the call on buyouts, and he was not interested the only time I had the opportunity to ask him about that(2001 ASM). Second, IDCC has a very powerful anti-takeover defense in place. You cannot buy IDCC "out" unless the BOD agrees to sell it. Still with me?
Well, guess what? Hard working Mike(aka Corp_Buyer, remember?) took the bold step of proposing that IDCC's wise and thoughtful shareholders might want to disable that BOD. Put them up for re-election every year, and see if he could get his own "Let's sell it" pals into those board seats.
Holy smokes! Sure looks like we voted to do just that today. How much are YOU hoping IDCC will be worth in the future? OK. How much do you think the big company Mike hopes to sell IDCC to one day will offer? Here is a clue. Much less than it would be worth, i.e., chump change. The kind of money dumb assed, and short-term thinking shareholders cause ALL of us to take for our shares when those shareholders either don't understand what they are voting on, or just want the "quick buck" and out. Same for funds.
Hope that helps, because I'm about done for the day.
AI
Market Data 
Markets 
