Rev- the poison pill was implemented without shareholder approval, and my prediction is the BoD will extend it without shareholder approval, to the continuing detriment of shareholders.
revlis: Looks like you later answered your own question about shareholder approval of the poison pill. For anyone who wants to get more info on the current plan see Note 12 to financial statements on last year's 10-K. As noted in your article it was declared by the BOD, and has a 10 year life. Here are the first and last sentences.
“12. SHAREHOLDER RIGHTS PLAN
In December 1996, our Board of Directors (Board) declared a distribution under our Shareholder Rights Plan (Rights Plan) of one Right (as described below) for each outstanding common share of the Company to shareholders of record as of the close of business on January 3, 1997. ..............SNIP...........The Rights Plan will expire on December 31, 2006.”
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