Zip
Why would anyone be embarrassed on the basis of an announcement of matters we already have been presented? The news would have to involve companies other than Ericy, Nok and Samsung. The company has been rewarded for the Nok and Samsung stuff long before the shareholders get theirs. As far as Ericy, at this point, 3g remains uncovered which was not anticipated by even the rose colored glasses crowd and the amount for past usage is even less than the naysayers were predicting. Add to that, the company has already told us that if, as and when the Nok/Samsung money arrives, we should not expect any by way of dividends or share buy backs. Management plans to invest it for us. Further, management sold into the rally which started on that sunny St. Patty's day. Finally, they could have included a resolution to increase the authorized shares just to show an inkling of confidence and pump up shareholder morale.
With all of the cooperation extended to shareholders by most of top management, I am sure that they will be shocked at the idea that many shareholders have strong objections to Resolution Number 2 on the 2003 ASM Proxy Statement. A good old fashioned "no" result is just exactly what these guys deserve.
The excuse days are over the minute that Nok compliance is announced. It is then time to really perform because the give away days are over. Getting less than 10% on the dollar has been the easy part. These guys have been rewarded well for getting factory close out results for 2g. The proof of this management team's value will be its success in turning 3g into the cash cow as advertised. This is their project and has been orchestrated under their watch. When we have the top 3g infrastructure manufacturers cheerfully reporting quarterly sales and wire transferring their associated royalty payments, we should all be more than generous when voting on their resolutions. Until that time, not a single shareholder should feel timid or embarrassed about recommending and entering a "no" vote to the proposed amendment. They have been rewarded for past efforts and the present day ongoing clean up work to finalize E/N/S which gets the company over the hump through 2006. Now is the time to show WS and the shareholders the 3g beef properly aligning all of our interests as we go forward.
MO
loop
AI
