News just out - suit filed by Disney and Gold re:election of directors and disclosure

Ghoulish Delight · 05-10-2005, 09:57 AM

I'm still of the opinion that Roy is just continuing to blow hot air. First he doesn't even bother to present a CEO candidate before the deadline, then he sues them for not doing a good fait search? I just don't get the strategy. A suit against a company board is a nearly impossible thing to win, and his actions (or inaction) make it even harder, from where I'm sitting. I mean, if he were really so concerned about them doing a good faith search, wouldn't he have used any opportunity he had to facilitate that search? And yet he just let the chance slip by with nary a peep.

Sorry, but Roy and Stan have been all talk, no action. And this long-shot of a law suit after Iger's already been chosen is too little, too late.

scaeagles · 05-10-2005, 10:26 AM

Quote:

Originally Posted by Ghoulish Delight

First he doesn't even bother to present a CEO candidate before the deadline, then he sues them for not doing a good fait search?

I'm not sure how all this corporate stuff works - was it his responsibility to present a CEO candidate?

Here's what I think - I think Disney and Gold realized the fix was in and that they could do nothing to stop Iger from becoming CEO. This being the case, they specifically opted NOT to offer up any candidates so that a suit could be filed. If they offer up a candidate or two, and those candidates are considered and rejected, an air of sour grapes comes in to the mix. Right now they have an argument - though perhaps a weak one - that no candidate other than Iger was considered.

They saw the writing on the wall - nothing they could do could stop Iger from getting the job. So they planned a suit long ago to try to combat it on the only grounds they could.

wendybeth · 05-10-2005, 10:46 AM

What he said. (Scaeagles)

None of us can pretend to know what goes on behind the scenes, and second guessing either camp is largely just an excercise in frustration. But here goes:

I think that Eisner used Iger to outmaneuver Roy and Stan. First, he pretended to support an earnest search for a new candidate, and timed his resignation to allow for a search after the shareholder's meeting. That way, a new slate nomination by Roy and Stan would be seen as devisive and unnecessary, and reflect poorly on them. There was never any serious candidate for the position besides Iger, something Eisner ensured by threatening to sit in on the process, etc. Iger is Eisner's way to remain in the company, so long as Iger remains loyal....

Roy and Stan knew all of this, of course, and so elected to sit back and feign watchful waiting. Knowing that Eisner's ego is so overblown he would become sloppy, they simply waited for him to give them a chance to get this into court. And he did. The 'search' was a huge joke, and widely reported as such. If a judge approves this to go forward, then Roy and Stan can subpeona records, memo's, individuals (such as Meg Whitman) and the like. Eisner does not want this to get to court, and neither does Iger.

Read back on some of the SaveDisney letters from Roy- he knew what was up. And remember who let the parks slide to such a state, in a time of economic plenty, no less. (The majority of the 'slide' was occuring well before 9/11). I'm glad they fixed things up, but I do not trust them to maintain it.

05-10-2005, 09:57 AM	#1
Ghoulish Delight I Floop the Pig Join Date: Jan 2005 Location: Alternative Swankstyle Posts: 19,348	I'm still of the opinion that Roy is just continuing to blow hot air. First he doesn't even bother to present a CEO candidate before the deadline, then he sues them for not doing a good fait search? I just don't get the strategy. A suit against a company board is a nearly impossible thing to win, and his actions (or inaction) make it even harder, from where I'm sitting. I mean, if he were really so concerned about them doing a good faith search, wouldn't he have used any opportunity he had to facilitate that search? And yet he just let the chance slip by with nary a peep. Sorry, but Roy and Stan have been all talk, no action. And this long-shot of a law suit after Iger's already been chosen is too little, too late. __________________ 'He who receives an idea from me, receives instruction himself without lessening mine; as he who lights his taper at mine, receives light without darkening me.' -TJ
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05-10-2005, 10:46 AM	#3
wendybeth Nevermind Join Date: Jan 2005 Posts: 7,847	What he said. (Scaeagles) None of us can pretend to know what goes on behind the scenes, and second guessing either camp is largely just an excercise in frustration. But here goes: I think that Eisner used Iger to outmaneuver Roy and Stan. First, he pretended to support an earnest search for a new candidate, and timed his resignation to allow for a search after the shareholder's meeting. That way, a new slate nomination by Roy and Stan would be seen as devisive and unnecessary, and reflect poorly on them. There was never any serious candidate for the position besides Iger, something Eisner ensured by threatening to sit in on the process, etc. Iger is Eisner's way to remain in the company, so long as Iger remains loyal.... Roy and Stan knew all of this, of course, and so elected to sit back and feign watchful waiting. Knowing that Eisner's ego is so overblown he would become sloppy, they simply waited for him to give them a chance to get this into court. And he did. The 'search' was a huge joke, and widely reported as such. If a judge approves this to go forward, then Roy and Stan can subpeona records, memo's, individuals (such as Meg Whitman) and the like. Eisner does not want this to get to court, and neither does Iger. Read back on some of the SaveDisney letters from Roy- he knew what was up. And remember who let the parks slide to such a state, in a time of economic plenty, no less. (The majority of the 'slide' was occuring well before 9/11). I'm glad they fixed things up, but I do not trust them to maintain it. __________________
	Submit to Quotes