you are spot on old man river. the board will be against...

you are spot on old man river. the board will be against rivkin's proposal but as i understand it they may not have enough voting power and the resolution has to go to a vote. we know rivkin has well over 5% of the vote and as some of the other posts have suggested what shareholder wouldnt go for the proposal (apart from the board).? the board has been full of hot air in saying the cash will be useful for something for quite awhile but actions speak louder than words and they havent done much. i do believe also they should have still close to the 86 mill as they did june 02. their statement recently they said they have "cash in excess of 70 mill at dec02." given they are against the proposal they probably don't want to let on cash is too high as that is an argument for the proposal. they therefore maybe in a position to return 90c and operate the way they have been.anyway the bottom line is the proposal gets thru which is a positive for the stock or alternatively they convince shareholders that they can use the cash wisely on an aquisition which also would be positive for the stock if shareholders were convinced of this. i'm still holding mine thats for sure!