Fox news reports Disney stock shareholders meeting

[wdwstar]

Eisner just said he will not back down, and all disney needs is 30% stock shareholders to vote against eisner and he could be gone today.........

meeting still going on in PHILY

 

[CRSNDSNY]

Keep us posted...I do not have access to FOX News from work. Thanks!

 

[DemoBri1]

Originally posted by wdwstar
Eisner just said he will not back down, and all disney needs is 30% stock shareholders to vote against eisner and he could be gone today.........

meeting still going on in PHILY

Is this true?? I thought that no matter what the % was, it was up to the board as to whether or not Eisner stays or goes.

 

[jctwizzer]

" I thought that no matter what the % was, it was up to the board as to whether or not Eisner stays or goes. [ "

You are basically correct. Stockholders elect directors; the board elects employees

The stockholder vote is for director, which is seperate from his position as an employee. And 30% is to "withhold" your vote on his position as a director-- there is no such thing as a "no" vote in corporate director elections. Even with 30% withholding, he would still be elected as a director---minorities do not rule; yet.

However, the Board could consider 30% withheld as a strong indication of dissatisfaction with his management, and they could then use that as a reason to change his position as an employee, ie. Chairman and CEO.

 

[BRERALEX]

ooops wrong thread sorryy

 

[CorbsVWL]

From CNBC...

Early this afternoon, Eisner's rivals in a press release claimed shareholders withheld more than 40% of votes from Eisner based on their estimates, a "resounding vote of no confidence." Disney has not confirmed or responded.

 

[zurgswife]

As of 1:45 they were still going throught the Disney Presentation...there hadn't been any official vote counts...the guess was that it wouldn't be until about 3pm when they get around to it...

After 4 hours of the Stockholder meeting I finally had to go home....my kids were getting home and I need to go...disappointed that I wasn't around for the official count...

 

[JudithM]

Originally posted by zurgswife
As of 1:45 they were still going throught the Disney Presentation...there hadn't been any official vote counts...the guess was that it wouldn't be until about 3pm when they get around to it...

After 4 hours of the Stockholder meeting I finally had to go home....my kids were getting home and I need to go...disappointed that I wasn't around for the official count...

We had been standing in lines &/or sitting in the chairs in the hall since 7:15 a.m. or so. WE finally left about 2:15 since we had to pick up our car at the hotel by 3 p.m. When we arrived (by foot) at the convention center in the morning there were signs saying complimentary valet parking for Disney stockholders. If we had been told about this little perk ahead oftime, we could have stayed longer.