SEC Filing - Election of the Board of Directors

[Alto101]

While it is not what we are waiting to hear, it is still interesting reading.

See the last page of the filing for the details...

 

[Voomin@720p]

I read it, what does it say that I was not wanting to hear???

 

[Alto101]

I read it, what does it say that I was not wanting to hear???

What I meant by that statement, is that it isn't the news that we are waiting for today....news about Voom's continued service beyond this month.

 

[rickaren]

If you wanted a guaranteed job for life and was a Lawyer, it looks like Cablevision and or Voom HD LLC would be the place to work! If the Company is in business you will stay employed and be very busy. Just these SEC filings alone (interesting and informative) these last few months most would never have seen except the Voomers that flock here. Thanks

 

[fredfa]

The more Chuck Dolan packs the Board, the more liablity he, CVC, and the Board members (as individuals) face.
That he would file this even while CVC is under SEC investigation is astounding.

 

[MarcelV]

The more Chuck Dolan packs the Board, the more liablity he, CVC, and the Board members (as individuals) face.
That he would file this even while CVC is under SEC investigation is astounding.

He's not doing anything against the rules. he is just exercising his right. If you're a CVC stockholder, you should be aware he can do this. You may not like it, but there's nothing against it.

 

[mdonnelly]

He's not doing anything against the rules. he is just exercising his right. If you're a CVC stockholder, you should be aware he can do this. You may not like it, but there's nothing against it.

He can pack the board with sycophants if he wants, like you say. BUT, if that board then proceeds to allow the Chairman to run the stock value into the ground with demonstrably wasteful spending (VOOM), THEN they are open to shareholder lawsuits.

 

[fredfa]

MarcelV:
Tell it to NY Atty Gen Spitzer, or to the WorldCom chiefs, or the Enron thieves.
In the current regulatory and legal environment there is just one word for your view: wrong.
The only way a majority stockholder can follow his own whims is to take his company private.
Otherwise he can be seen as betting other people's money on his own pet projects.

 

[T2k]

He can pack the board with sycophants if he wants, like you say. BUT, if that board then proceeds to allow the Chairman to run the stock value into the ground with demonstrably wasteful spending (VOOM), THEN they are open to shareholder lawsuits.

Appartently you are unable to understand that he owns 70% of the voting stocks...

 

[T2k]

MarcelV:
Tell it to NY Atty Gen Spitzer, or to the WorldCom chiefs, or the Enron thieves.
In the current regulatory and legal environment there is just one word for your view: wrong.

You guys are confusing quite a few things here, pals...

None of the mentioned former execs were the majority stockholder, so your analogy is dead wrong here.

The only way a majority stockholder can follow his own whims is to take his company private.
Otherwise he can be seen as betting other people's money on his own pet projects.

As long as he owns 70% of the B-stocks, he has 70% voting rights. End of story.
If you don't like it, sell your stock. Nobody cares.

 

[mdonnelly]

Appartently you are unable to understand that he owns 70% of the voting stocks...

I understand that perfectly. Read my post AGAIN. What YOU don't understand, is that even though packing the board is legal, that board is subject to SEC oversight and shareholder accountability.

 

[T2k]

I understand that perfectly. Read my post AGAIN. What YOU don't understand, is that even though packing the board is legal, that board is subject to SEC oversight and shareholder accountability.

You just made my point again.

 

[mdonnelly]

You just made my point again.

None are so blind as those who will not see (you, of course. Forbes is well qualified to comment).

http://www.satelliteguys.us/showthread.php?t=60761

 

[joep]

, Cablevision Systems Corp. Chairman C Dolan wants to reduce board to 12 members

http://news.yahoo.com/news?tmpl=story&u=/ap/20050331/ap_on_bi_ge/cablevision_board_1

WASHINGTON - In a move to solidify his control of the board, Cablevision Systems Corp. Chairman Charles Dolan said he plans to propose that the board reduce its size to 12 members from 15.


In a letter to the board attached to a filing Thursday with the Securities and Exchange Commission, Dolan said he plans to raise the proposal at the April 18 board meeting.


Dolan, who controls a majority of Class B shares of the entertainment, media and telecommunications company, has the right to name 75 percent of the board members at the next annual meeting. The rest will be elected by holders of the publicly traded Class A shares.


If the board size is reduced, the nine directors appointed by Dolan will constitute 75 percent of the board.


Dolan lost a boardroom showdown earlier this year, when directors sided with his son James in opposing the satellite venture Voom, which Charles had championed.


New York's Metropolitan Transportation Authority on Thursday cleared the New York Jets' plan for a $1.7 billion Manhattan stadium, rejecting a competing proposal from Cablevision.


Cablevision's Class A shares fell 10 cents, or 0.4 percent, to close at $28.05 Thursday on the New York Stock Exchange. The company is based in Bethpage, N.Y.

 

[James Long]

It doesn't matter how he stacks it. He has to find a board he can win with.

JL

 

[niceprophet]

It doesn't matter how he stacks it. He has to find a board he can win with.

JL

Then apparently it DOES matter how he stacks it.