Tuesday, July 10, 2007

mocoNews.Net: Moto Faces Another Shareholder Campaign; Smaller Than Icahn But Loud

From Monday's mocoNews.net by Staci Kramer:

By Staci D. Kramer - Mon 09 Jul 2007 05:08 PM PST

Fresh off his contribution to Terry Semel’s departure as Yahoo CEO and armed with 130 shares in Motorola, Eric Jackson started a campaign Monday to get rid of Motorola chairman and CEO Ed Zander and four other directors. He has posted a video on YouTube urging other shareholders to pledge their shares to support the campaign; his rationale for a Moto “Plan B” is here. Jackson only had 96 shares in Yahoo but gathered pledges of 2 million shares, still a drop in the proverbial bucket but enough to make noise. He hopes to do the same for Moto, which is no stranger to activist shareholders; Carl Icahn lost his proxy fight in May.

Deal Journal: “Jackson is among a new breed of investors who are savvy about the grass-roots power of the Internet and use it to make activism no longer a game reserved only for wealthy financiers.”

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Frank Gilroy said...

I wish you the best of luck in this endeavour. You've no doubt seen from my article how un-happy many within Motorola are with Ed's "leadership".

Please let me know if there is anything I can do to help


Eric Jackson said...

Hi Frank:

Thanks. I hadn't seen your letter.

Some great comments there - and many!

I hope if you have any MOT shares left, you will consider "pledging" them to our campaign and encourage others to. This is the only way we can speak with one strong voice.