STIN,
We have several issues that need to be addressed.
1. Stopping any further enhancements of management's options and RSU's;
2. Getting shareholder value for investors and not for insiders
3. Getting full value of IDCC stock recognized by the street
4. Getting someone on the board who would address shareholders needs and not just management.
Maybe what we need is Bill Nasgovitz from Heartland (4.23% holdings) and maybe someone from Barclay's Global Investors (5.01%), Vanguard Group (3.99%), Renaissance Technologies LLC (3.63%), or the like where together, they control 16.86% of the stock. With individual shareholders, we could push this number to 20% or more.
With these quys on our side, and maybe 2-3 of them on the board, we would have a better chance of getting shareholder value on the table as a serious and #1 priority.
They would still have to wrestle with Harry's group to sway the board.
From what I understand, on smaller, close-knit boards, the members usually would vote the way the COB wants to vote (IE: If a discussion of a special dividend were raised, don't you think that the board would look to the COB and say what his thoughts are; and if he says NO because of ........., then the others would likely to side with him?) We've discussed it; we've decided against it; end of discussion; on to the next agenda item.
FIRST THINGS FIRST (and IMHO that would be to send a clear message to the Board that WE need to be heard). Then, we can address things like changing of the board, etc., in 2010 and beyond.
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