On Mar 3, 12:02 am, Rob Harrison <robha...@gmail.com> wrote: > What a mess! I stand corrected.
it is a mess. this may result in a legal battle regarding whether or not Charles Wang is an "interested director" for the purpose of the merger. in a nutshell, there are laws that govern the whether an interested director (e.g., those that have a personal/substantial financial interest in a transaction) can vote. even if Wang didn't vote, "his" 4 board members still still had the majority vote because 1 board member abstained. which begs the question - what vote is needed under the bylaws to approve a transaction of this magnitude? it seems like the bylaws would require a supermajority of sorts, or the approval of both founders, or something . .. anyway, Mullaney should have been more careful. but when somebody is "donating" a $500,000k plus salary, maybe you learn to bite your lip. you "bury a hatchet" buy buying somebody a beer, not by approving board members that can potentially merge out your charity. -- You received this message because you are subscribed to the Google Groups "RBW Owners Bunch" group. To post to this group, send email to rbw-owners-bunch@googlegroups.com. To unsubscribe from this group, send email to rbw-owners-bunch+unsubscr...@googlegroups.com. For more options, visit this group at http://groups.google.com/group/rbw-owners-bunch?hl=en.
