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  1. #1
    Robert M.
    Guest

    Reuters
    UPDATE - ISS recommends vote against Sprint director
    Thursday April 8, 11:17 am ET

    (Updates throughout with details)

    WASHINGTON, April 8 (Reuters) - Institutional Shareholder Services, a
    proxy voting advisory service, said on Thursday it was recommending
    withholding votes for a member of Sprint Corp.'s (NYSE:FON - News) board
    of directors, citing the company's selection of board candidates and its
    CEO's compensation.

    ADVERTISEMENTISS said it would have recommended a broader vote against
    Sprint's board, but only one candidate up for re-election, Linda Koch
    Lorimer, was a continuing board member. It also recommended votes for
    two shareholder proposals.

    Sprint, one of the largest U.S. long-distance and cellular telephone
    companies, did not immediately return calls seeking comment.

    ISS said it had "serious concerns about the effectiveness" of Sprint's
    board, saying the process for choosing directors "appears to be less
    than independent and partly driven by CEO connections."

    ISS also faulted Sprint for giving Chairman and Chief Executive Gary
    Forsee what it called an "extravagant" pay package in his first year on
    the job. Forsee was paid about $16.4 million in cash, stock and other
    compensation in 2003, and received 2.8 million stock options.

    The shareholder proposals favored by ISS would call on Sprint to
    separate the titles of chairman and CEO and to establish a
    performance-based stock option plan. In its proxy, Sprint opposed both
    proposals and cited ISS in support of its arguments.


    http://biz.yahoo.com/rc/040408/telec...irector_2.html



    See More: Upcoming Sprint Board Meeting could get interesting




  2. #2
    Charles Walsten
    Guest

    Re: Upcoming Sprint Board Meeting could get interesting

    Interesting

    "Robert M." <[email protected]> wrote in message
    news:[email protected]
    >
    > Reuters
    > UPDATE - ISS recommends vote against Sprint director
    > Thursday April 8, 11:17 am ET
    >
    > (Updates throughout with details)
    >
    > WASHINGTON, April 8 (Reuters) - Institutional Shareholder Services, a
    > proxy voting advisory service, said on Thursday it was recommending
    > withholding votes for a member of Sprint Corp.'s (NYSE:FON - News) board
    > of directors, citing the company's selection of board candidates and its
    > CEO's compensation.
    >
    > ADVERTISEMENTISS said it would have recommended a broader vote against
    > Sprint's board, but only one candidate up for re-election, Linda Koch
    > Lorimer, was a continuing board member. It also recommended votes for
    > two shareholder proposals.
    >
    > Sprint, one of the largest U.S. long-distance and cellular telephone
    > companies, did not immediately return calls seeking comment.
    >
    > ISS said it had "serious concerns about the effectiveness" of Sprint's
    > board, saying the process for choosing directors "appears to be less
    > than independent and partly driven by CEO connections."
    >
    > ISS also faulted Sprint for giving Chairman and Chief Executive Gary
    > Forsee what it called an "extravagant" pay package in his first year on
    > the job. Forsee was paid about $16.4 million in cash, stock and other
    > compensation in 2003, and received 2.8 million stock options.
    >
    > The shareholder proposals favored by ISS would call on Sprint to
    > separate the titles of chairman and CEO and to establish a
    > performance-based stock option plan. In its proxy, Sprint opposed both
    > proposals and cited ISS in support of its arguments.
    >
    >
    > http://biz.yahoo.com/rc/040408/telec...irector_2.html






  3. #3
    Thomas T. Veldhouse
    Guest

    Re: Upcoming Sprint Board Meeting could get interesting

    -----BEGIN PGP SIGNED MESSAGE-----
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    Robert M. <[email protected]> wrote:
    > FUD


    Is that right Phillip?

    How is your fixation treating you these days?

    - --

    Thomas T. Veldhouse
    Key Fingerprint: 2DB9 813F F510 82C2 E1AE 34D0 D69D 1EDC D5EC AED1

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