The list of NO votes grows

[manning]

Calif. Pension Fund Won't Back Eisner (one of the top 30 share holders of Disney with 9.9 million shares.

Institutional Shareholder Services won’t back Eisner

Glass, Lewis & Co., an investment research and proxy advisory firm. Won’t back Eisner

The California State Teachers' Retirement System said it will withhold a vote to retain Mr. Eisner in his current position because of concerns about his strategic vision.

New York State Comptroller Alan Hevesi plans to vote state pension fund shares against re-electing Walt Disney Co. (DIS) Chief Executive Michael Eisner

Oregon will follow ISS's recommendation and vote against Eisner, a spokesman for the state treasurer said.

The $32 billion Massachusetts pension fund also will vote its 1.6 million shares against Eisner, Karen Sharma, a spokeswoman for Massachusetts Treasurer Tim Cahill, told Reuters.

New Jersey Division of Investment

Virginia Retirement System,

T. R. Price

Connecticut pension fund

North Carolina pension fund

 

[JeffPort]

Eisner is toast. There is clearly a snowball effect now in place ... all of the momentum is now moving toward a vote of no confidence. These names are are some of the biggest institutional investors in the country. There is only one reason that they are going public now with their intentions to withhold their votes for Eisner -- they see that it's time for him to step aside and they want to telegraph their decision to OTHER institutional investors. The message is being heard loud and clear. There is no longer any resistance for an investment group currently on the fence to vote no on Eisner -- these big firms have essentially laid out the cover for all of the others to join the bandwagon. They are, in essence, leading the stampede.

I'm beginning to think that the No vote next Wednesday is actually going to go north of 30%. If so, the board will have to act. The remaining question will be whether the board can successfully bring in a strong new management team to keep Disney independent, or whether they just throw in the towel and start negotiating with Comcast (or some other company).

I, for one, am really hoping all of the rumors that Steve Jobs is waiting in the wings with a Disney/Pixar merger has some basis in fact. I don't want to see a Disney subsidiary group -- that won't be good for the Disney culture in the long run. If Disney gets swallowed up by another company, there is a strong possibility that it will be eventually chopped up into pieces -- even if that is not the original intent of the new "owners." Disney's businesses are too diverse for a normal company to want to deal with in the long run. Big-business types in these public companies are now trained to think that they need to concentrate strictly on what they do best and dispose of the peripheral pieces -- particularly when those pieces are slow growth units. Disney has plenty of candidates in that arena.

 

[Goofyposter]

Eisner is toast.

...Sure Looks that way......

 

[JudithM]

I love your toaster picture!!

 

[Palendat]

I voted "NO" to Ei$ner just 5 minutes ago! (I know I'm no institutional investor, but it felt good anyway!!!)

 

[jimmytammy]

Thanks so much for the picture!!

I was having a pretty rough day and needed a good laugh.

That did it!!

 

[manning]

Add T.Rowe. Price to the list as mentioned in New York Times

edited to correct to T.Rowe Price instead of T.R. Price

 

[daber]

Add Connecticut pension fund and as of this morning North Carolina.

 

[jimmytammy]

Sure am glad my native NC didnt let me down.

 

[sandro]

It´s time to toast Eisner. I´m wishing upon a star for the success of the vote NO campain.

 

[lodgelady]

GOOFYPOSTER Thanks for the fitting image!

 

[DVCDAVE]

LOVE that image of Ei$ner toast !!! LOL.....I hope you don't mind me saving it and sharing it with some of my friends ?

 

[manning]

You can forget about the New York City pension fund. They are sticking with Eisner.

 

[Goofyposter]

New York City Comptroller William Thompson said Eisner "remains the best choice to ensure the continued growth and success of this company," and that city funds with 7.6 million Disney shares would support him. That was a renegade move in a week in which state funds with at least 40 million shares, about 2 percent of Disney stock, voiced their opposition.

You can send your thoughts about his decision to Mr. Thompson at this address: citizens@comptroller.nyc.gov

I reminded Mr. Thomspon that if you're being run out of town....you should get ahead of the crowd....and make it look like a parade.

Unfortunately, Mr. Thompson is wearing blinders. Perhaps you can help to expand his area of vision.