Go to Jeff Salisbury LWGate Home Page.From: "Fred Richards" <adrich@gte.net>
Subject: RE: [CANSLIM] Re: Restatement of CANSLIM?
Date: Thu, 27 Jun 2002 11:16:06 -0500
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There are two things that have to be addressed.
First, many boards have become hostage to the political correctness and
diversity philosophies and as a result, they have people who have little or
no experience in the businesses.
Second, many of us who used to serve on public boards refuse to do so
because of the ease of which one can be sued and two, the personal liability
questions.
For example, I have not served on a public board since the early 80's. One
of my close friends was asked to serve on the old Republic National Bank of
Dallas board, attended the last two meetings before they were closed by the
Fed and spent over $2.5 million in legal fees defending himself.
Quite frankly, it just is not worth the hassle for many of us.
[Fred Richards]
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Katherine Malm
Sent: Thursday, June 27, 2002 8:26 AM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] Re: Retstatement of CANSLIM?
Just have to chime in here...while I have only the greatest respect for
someone like Jimmy Carter, this is *not* what Boards need. They need
hard-hitting board members who know business, and who are not afraid to tell
the CEO and executives that they are full of $&*^ when they pull outrageous
acts or are sleeping on the job. Instead, many boards are filled with window
dressing. I know quite a few folks who sit on boards and don't do SQUAT, yet
they do so to "build their network." What a crock.
Katherine
----- Original Message -----
From: Winston Little
To: canslim@lists.xmission.com
Sent: Thursday, June 27, 2002 8:17 AM
Subject: Re: [CANSLIM] Re: Retstatement of CANSLIM?
When Ross Perot was a director of GM, he refused to participate in the
"excess and other skuldugery" of the GM HQ12th floor.
He even REFUSED the free cars and eating in the executive dining room.
He
wrote a series "How I would Reform GM" and the incumbents were so
dismayed
that they asked him to leave the company. Their view was that he wanted
to
deprive them of their birthright!
My point is that even with the infrequent meetings and shows, if one is
alert, one can usually smell the stink in the place.
In a later note Tom mentions Jimmy Carter(JEC). Itoo view him (JEC) as
an
honorable man, but he is too trusting of people. I wonder if he would
detect
the smell in many of the crooked houses around.
----- Original Message -----
From: "Tom Worley" <stkguru@bellsouth.net>
To: <canslim@lists.xmission.com>
Sent: Wednesday, June 26, 2002 10:15 PM
Subject: Re: [CANSLIM] Re: Retstatement of CANSLIM?
> I have very little doubt in my mind that large block shareholders such
as
> pension funds are more interested in inside information than in
wielding
> their power and influence to ensure "better corporate governance,
reasonable
> CEO pay, etc.and an end to the interlocking directorships of cronies."
And
> it makes sense, since their first loyalty is not to the investing
public /
> community, but rather the investors in the pension fund.
>
> I would like to see the SEC mandate that the Board of Directors
consist of
> 51% independent directors in all cases. And for corps over certain
market
> value, say $1 billion, require that independent Directors be over 67%
and
of
> those Directors include at least a minority of successful, but
retired,
> businessmen or businesswomen (I nominate Katherine) that will be
willing
to
> speak out publicly if necessary when they are concerned about what
they
see.
>
> But recognizing that Directors meet, at the most, one day a month, it
is
> unlikely they will ever know what is really going on outside the dog
and
> pony show undoubtedly put on for them.
>
> ----- Original Message -----
> From: "Warren Keuffel" <wkeuffel@xmission.com>
> To: <canslim@lists.xmission.com>
> Sent: Wednesday, June 26, 2002 5:50 PM
> Subject: Re: [CANSLIM] Re: Retstatement of CANSLIM?
>
>
> I am of the opinion -- and I would dearly loved to be proved wrong --
> that how we, as individual investors vote doesn't amount to much more
> than a spit in the ocean. The real power comes from the institutions,
> such as the Calif. pension funds, etc. that are just now starting to
> exercise that power. Some of these institutions are pushing for better
> corporate governance, reasonable CEO pay, etc.and an end to the
> interlocking directorships of cronies.
> also, have you ever noticed how many non-business people get on
boards?
> People who run non-profits, arts organizations, etc. Hello? What
> expertise do people like Jesse Jackson (extreme example) have to offer
> to a corporation?
>
> Warren
>
> Winston Little wrote:
>
> >Fanus:
> >
> >The points you make are very true.
> >
> >I also believe that a big part of t he blame for WCOM, ENE, GX, KM
and
> other
> >similar are the fault of shareholders.
> >
> >Not many people vote to appoint Board of Directors (BOD) or attend
and
> >PARTICIPATE in annual meetings.
> >
> >There are just a few hundred CEO (conceited, exclusive, overpaid )
whose
> >names recurrently appear on the BOD as you go from company to
company.
> These
> >members slap each other on the back, are more interested in each
others
> golf
> >handicap than corporate matters, and vote for excessive pay and
greed, so
> >that they too will receive excessive rewards.
> >
> >Look at what happened to Walter Hewlett when he challenged those
clowns.
> Did
> >the share holders come to his defense? No, they went with the
slimeballs.
> >
> >When shareholders vote for independent and outside BOD, they have a
right
> to
> >expect vigilance and honesty. When we do not and allow the BOD to be
> >populated by hacks in a circle, we can only expect to be jerked.
> >
> >
> >----- Original Message -----
> >From: "Fanus" <fanus13@yahoo.com>
> >To: <canslim@lists.xmission.com>
> >Sent: Wednesday, June 26, 2002 4:54 PM
> >Subject: Re: [CANSLIM] Re: Retstatement of CANSLIM?
> >
> >
> >>So, you are saying throw away the fundamentals and
> >>trade only on the technicals?
> >>
> >>There are probably close to 10000 public traded
> >>companies and just because a handful of companies
> >>committed fraud and use creative accounting, does that
> >>mean the other 99% are also just as bad? This is
> >>like saying because a small fraction of the population
> >>is in prison, this mean all people are criminals.
> >>
> >>- Fanus
> >>
> >>--- Spencer48@aol.com wrote:
> >>
> >>>Group:
> >>>
> >>> I'm surprised noone has mentioned this yet:
> >>>But CANSLIM (in particular
> >>>the 1st 2 letters) is based on fundamentally
> >>>analyzing and accepting that
> >>>quarterly and annual earnings will be approximately
> >>>25%.
> >>>
> >>> However, with the accounting scandals going on,
> >>>and big companies like
> >>>Enron, WorldCom etc., being involved, will CANSLIM
> >>>erode in NSLIM?
> >>>
> >>>jans
> >>>
> >>>-
> >>>-To subscribe/unsubscribe, email
> >>>"majordomo@xmission.com"
> >>>-In the email body, write "subscribe canslim" or
> >>>-"unsubscribe canslim". Do not use quotes in your
> >>>
> >>email.
> >>
> >>
> >>__________________________________________________
> >>Do You Yahoo!?
> >>Yahoo! - Official partner of 2002 FIFA World Cup
> >>http://fifaworldcup.yahoo.com
> >>
> >>-
> >>-To subscribe/unsubscribe, email "majordomo@xmission.com"
> >>-In the email body, write "subscribe canslim" or
> >>-"unsubscribe canslim". Do not use quotes in your email.
> >>
> >
> >
> >-
> >-To subscribe/unsubscribe, email "majordomo@xmission.com"
> >-In the email body, write "subscribe canslim" or
> >-"unsubscribe canslim". Do not use quotes in your email.
> >
> >
> >
>
>
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim". Do not use quotes in your email.
>
>
>
> -
> -To subscribe/unsubscribe, email "majordomo@xmission.com"
> -In the email body, write "subscribe canslim" or
> -"unsubscribe canslim". Do not use quotes in your email.
>
-
-To subscribe/unsubscribe, email "majordomo@xmission.com"
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<BODY bgColor=3D#ffffff>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2>There=20
are two things that have to be addressed.</FONT></SPAN></DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2>First,=20
many boards have become hostage to the political correctness and =
diversity=20
philosophies and as a result, they have people who have little or no =
experience=20
in the businesses.</FONT></SPAN></DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2>Second, many of us who used to serve on public =
boards refuse to do=20
so because of the ease of which one can be sued and two, the personal =
liability=20
questions.</FONT></SPAN></DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2>For=20
example, I have not served on a public board since the early 80's. =
One of=20
my close friends was asked to serve on the old Republic National Bank of =
Dallas=20
board, attended the last two meetings before they were closed by the Fed =
and=20
spent over $2.5 million in legal fees defending =
himself.</FONT></SPAN></DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2></FONT></SPAN> </DIV>
<DIV><SPAN class=3D060161016-27062002><FONT face=3DArial color=3D#0000ff =
size=3D2>Quite=20
frankly, it just is not worth the hassle for many of us. =20
</FONT></SPAN></DIV><SPAN class=3D060161016-27062002></SPAN><FONT =
face=3DTahoma>
<DIV><BR><FONT size=3D2><SPAN class=3D060161016-27062002><FONT =
face=3DArial=20
color=3D#0000ff>[Fred Richards] </FONT></SPAN></FONT></DIV>
<DIV><FONT size=3D2><SPAN =
class=3D060161016-27062002></SPAN></FONT> </DIV>
<DIV><FONT size=3D2><SPAN =
class=3D060161016-27062002> </SPAN>-----Original=20
Message-----<BR><B>From:</B> owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Katherine=20
Malm<BR><B>Sent:</B> Thursday, June 27, 2002 8:26 AM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM] Re: =
Retstatement of=20
CANSLIM?<BR><BR></DIV></FONT></FONT>
<BLOCKQUOTE dir=3Dltr style=3D"MARGIN-RIGHT: 0px">
<DIV>Just have to chime in here...while I have only the greatest =
respect for=20
someone like Jimmy Carter, this is *not* what Boards need. They need=20
hard-hitting board members who know business, and who are not afraid =
to tell=20
the CEO and executives that they are full of $&*^ when they pull=20
outrageous acts or are sleeping on the job. Instead, many boards are =
filled=20
with window dressing. I know quite a few folks who sit on boards and =
don't do=20
SQUAT, yet they do so to "build their network." What a crock.</DIV>
<DIV> </DIV>
<DIV>Katherine</DIV>
<BLOCKQUOTE=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3Dwlittle1@peoplepc.com =
href=3D"mailto:wlittle1@peoplepc.com">Winston=20
Little</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dcanslim@lists.xmission.com=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Thursday, June 27, 2002 =
8:17=20
AM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] Re: =
Retstatement=20
of CANSLIM?</DIV>
<DIV><BR></DIV>When Ross Perot was a director of GM, he refused to=20
participate in the<BR>"excess and other skuldugery" of the GM HQ12th =
floor.<BR>He even REFUSED the free cars and eating in the executive =
dining=20
room. He<BR>wrote a series "How I would Reform GM" and the =
incumbents were=20
so dismayed<BR>that they asked him to leave the company. Their view =
was that=20
he wanted to<BR>deprive them of their birthright!<BR><BR>My point is =
that=20
even with the infrequent meetings and shows, if one is<BR>alert, one =
can=20
usually smell the stink in the place.<BR>In a later note Tom =
mentions Jimmy=20
Carter(JEC). Itoo view him (JEC) as an<BR>honorable man, but he is =
too=20
trusting of people. I wonder if he would detect<BR>the smell in many =
of the=20
crooked houses around.<BR><BR>----- Original Message -----<BR>From: =
"Tom=20
Worley" <<A=20
=
href=3D"mailto:stkguru@bellsouth.net">stkguru@bellsouth.net</A>><BR>To=
:=20
<<A=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
><BR>Sent:=20
Wednesday, June 26, 2002 10:15 PM<BR>Subject: Re: [CANSLIM] Re: =
Retstatement=20
of CANSLIM?<BR><BR><BR>> I have very little doubt in my mind that =
large=20
block shareholders such as<BR>> pension funds are more interested =
in=20
inside information than in wielding<BR>> their power and =
influence to=20
ensure "better corporate governance,<BR>reasonable<BR>> CEO pay, =
etc.and=20
an end to the interlocking directorships of cronies." And<BR>> it =
makes=20
sense, since their first loyalty is not to the investing public =
/<BR>>=20
community, but rather the investors in the pension =
fund.<BR>><BR>> I=20
would like to see the SEC mandate that the Board of Directors =
consist=20
of<BR>> 51% independent directors in all cases. And for corps =
over=20
certain market<BR>> value, say $1 billion, require that =
independent=20
Directors be over 67% and<BR>of<BR>> those Directors include at =
least a=20
minority of successful, but retired,<BR>> businessmen or =
businesswomen (I=20
nominate Katherine) that will be willing<BR>to<BR>> speak out =
publicly if=20
necessary when they are concerned about what =
they<BR>see.<BR>><BR>>=20
But recognizing that Directors meet, at the most, one day a month, =
it=20
is<BR>> unlikely they will ever know what is really going on =
outside the=20
dog and<BR>> pony show undoubtedly put on for =
them.<BR>><BR>> -----=20
Original Message -----<BR>> From: "Warren Keuffel" <<A=20
=
href=3D"mailto:wkeuffel@xmission.com">wkeuffel@xmission.com</A>><BR>&g=
t;=20
To: <<A=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
><BR>>=20
Sent: Wednesday, June 26, 2002 5:50 PM<BR>> Subject: Re: =
[CANSLIM] Re:=20
Retstatement of CANSLIM?<BR>><BR>><BR>> I am of the opinion =
- -- and=20
I would dearly loved to be proved wrong --<BR>> that how we, as=20
individual investors vote doesn't amount to much more<BR>> than a =
spit in=20
the ocean. The real power comes from the institutions,<BR>> such =
as the=20
Calif. pension funds, etc. that are just now starting to<BR>> =
exercise=20
that power. Some of these institutions are pushing for =
better<BR>>=20
corporate governance, reasonable CEO pay, etc.and an end to =
the<BR>>=20
interlocking directorships of cronies.<BR>> also, have you ever =
noticed=20
how many non-business people get on boards?<BR>> People who run=20
non-profits, arts organizations, etc. Hello? What<BR>> expertise =
do=20
people like Jesse Jackson (extreme example) have to offer<BR>> to =
a=20
corporation?<BR>><BR>> Warren<BR>><BR>> Winston Little=20
wrote:<BR>><BR>> >Fanus:<BR>> ><BR>> >The =
points you=20
make are very true.<BR>> ><BR>> >I also believe that a =
big part=20
of t he blame for WCOM, ENE, GX, KM and<BR>> other<BR>> =
>similar=20
are the fault of shareholders.<BR>> ><BR>> >Not many =
people vote=20
to appoint Board of Directors (BOD) or attend and<BR>> =
>PARTICIPATE in=20
annual meetings.<BR>> ><BR>> >There are just a few =
hundred CEO=20
(conceited, exclusive, overpaid ) whose<BR>> >names =
recurrently=20
appear on the BOD as you go from company to company.<BR>> =
These<BR>>=20
>members slap each other on the back, are more interested in each =
others<BR>> golf<BR>> >handicap than corporate matters, and =
vote=20
for excessive pay and greed, so<BR>> >that they too will =
receive=20
excessive rewards.<BR>> ><BR>> >Look at what happened to =
Walter=20
Hewlett when he challenged those clowns.<BR>> Did<BR>> >the =
share=20
holders come to his defense? No, they went with the =
slimeballs.<BR>>=20
><BR>> >When shareholders vote for independent and outside =
BOD,=20
they have a right<BR>> to<BR>> >expect vigilance and =
honesty. When=20
we do not and allow the BOD to be<BR>> >populated by hacks in =
a=20
circle, we can only expect to be jerked.<BR>> ><BR>> =
><BR>>=20
>----- Original Message -----<BR>> >From: "Fanus" <<A=20
href=3D"mailto:fanus13@yahoo.com">fanus13@yahoo.com</A>><BR>> =
>To:=20
<<A=20
=
href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>=
><BR>>=20
>Sent: Wednesday, June 26, 2002 4:54 PM<BR>> >Subject: Re:=20
[CANSLIM] Re: Retstatement of CANSLIM?<BR>> ><BR>> =
><BR>>=20
>>So, you are saying throw away the fundamentals and<BR>>=20
>>trade only on the technicals?<BR>> >><BR>> =
>>There=20
are probably close to 10000 public traded<BR>> >>companies =
and just=20
because a handful of companies<BR>> >>committed fraud and =
use=20
creative accounting, does that<BR>> >>mean the other 99% =
are also=20
just as bad? This is<BR>> >>like saying because =
a small=20
fraction of the population<BR>> >>is in prison, this mean =
all=20
people are criminals.<BR>> >><BR>> >>- =
Fanus<BR>>=20
>><BR>> >>--- <A=20
href=3D"mailto:Spencer48@aol.com">Spencer48@aol.com</A> =
wrote:<BR>>=20
>><BR>> >>>Group:<BR>> >>><BR>>=20
>>> I'm surprised noone has =
mentioned this=20
yet:<BR>> >>>But CANSLIM (in particular<BR>> =
>>>the=20
1st 2 letters) is based on fundamentally<BR>> =
>>>analyzing and=20
accepting that<BR>> >>>quarterly and annual earnings =
will be=20
approximately<BR>> >>>25%.<BR>> >>><BR>>=20
>>> However, with the accounting =
scandals=20
going on,<BR>> >>>and big companies like<BR>>=20
>>>Enron, WorldCom etc., being involved, will =
CANSLIM<BR>>=20
>>>erode in NSLIM?<BR>> >>><BR>>=20
>>>jans<BR>> >>><BR>> >>>-<BR>>=20
>>>-To subscribe/unsubscribe, email<BR>> >>>"<A =
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>>=
;=20
>>>-In the email body, write "subscribe canslim" or<BR>> =
>>>-"unsubscribe canslim". Do not use quotes in =
your<BR>>=20
>>><BR>> >>email.<BR>> >><BR>>=20
>><BR>>=20
>>__________________________________________________<BR>>=20
>>Do You Yahoo!?<BR>> >>Yahoo! - Official partner of =
2002=20
FIFA World Cup<BR>> >>http://fifaworldcup.yahoo.com<BR>> =
>><BR>> >>-<BR>> >>-To =
subscribe/unsubscribe, email=20
"<A =
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>>=
;=20
>>-In the email body, write "subscribe canslim" or<BR>>=20
>>-"unsubscribe canslim". Do not use quotes in your=20
email.<BR>> >><BR>> ><BR>> ><BR>> =
>-<BR>>=20
>-To subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>>=
;=20
>-In the email body, write "subscribe canslim" or<BR>>=20
>-"unsubscribe canslim". Do not use quotes in your =
email.<BR>>=20
><BR>> ><BR>> ><BR>><BR>><BR>><BR>> =
- -<BR>> -To=20
subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>>=
; -In=20
the email body, write "subscribe canslim" or<BR>> -"unsubscribe=20
canslim". Do not use quotes in your=20
email.<BR>><BR>><BR>><BR>> -<BR>> -To =
subscribe/unsubscribe,=20
email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>>=
; -In=20
the email body, write "subscribe canslim" or<BR>> -"unsubscribe=20
canslim". Do not use quotes in your =
email.<BR>><BR><BR><BR>-<BR>-To=20
subscribe/unsubscribe, email "<A=20
=
href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In=
the=20
email body, write "subscribe canslim" or<BR>-"unsubscribe =
canslim". Do=20
not use quotes in your =
email.<BR></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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