shareholders unite

This is ridiculous!!!

After the were nearly removed by Baldwin, you'd think they would have learnt to operate with a bit more humility. But unfortunately, they are still running this like a boys club. On top of that, they are all so overpaid already and I am beginning to wonder if the office deal was less about getting a good deal than about making themselves more comfortable.

What can we do?

The only thing that springs to mind is to get a web-site up. All that would be needed is a simple text web-page which outlines reasons to oppose each of the problematic resolutions. That way we could refer everyone we know who owns Icon to that website. I know several people who own Icon. This is important as not everyone reads hotcopper. Once up and running, we could also send the web-page to a few media outlets. The issue of shareholder revolts against outrageous corporate mis-governance is quite topical at the moment, so it might get some news.

So, as a first step, why don't people start listing the reasons each resolution should be opposed. In relation to pay packets, some peer comparisons would be useful. Surely collectively, we have a fair bit of knowledge. If people contribute, I will put them altogether into something resembling a cogent piece of writing. This can be a collaborative process. It is important, that the facts be correct and that we avoid any libel comments in the process.

Second, we need to get a domain name. Mav, do you know the people who tried to roll the board last time? Do they by any chance still own that domain name?

A simple domain (e.g. www.iconmanagementsucks.com) would be best for credibility and distribution and publicity purposes, as opposed to a free webspace page, such as www.google.com/987sd98udadsa/freepage09801923/iconsucks.htm.

Sure, we could all just sell our shares and move on. But its getting to a point where it becomes a moral issue. And also a money issue as we need to get these corporate governance issues resolved now if Icon is to succeed long-term. Maybe hotcopper could be a force for good, if it provides a forum for small shareholders to hold the big players to account.

Would several people be willing to contribute to writing up some points for why each resolution would be resisted? If so, please post below, and day-by-day I will collate the information and post drafts. I am not going to do this by myself, but if enough people show some interest I will put some work into coordinating any efforts.