The Shareholder Forum

supporting investor interests in the use of their capital to produce goods and services


Purpose & History of Services

The Shareholder Forum

The Shareholder Forum supports investor interests in corporate enterprise value with services that require independence – and that may benefit from the Forum’s network resources and recognition for advocacy of long term investor interests – to assure a definition of relevant issues and fair access to information that can be relied upon by both corporate and investor decision-makers.

The policies that provide a foundation for the Forum’s marketplace functions have been carefully developed and tested to allow any investor to participate in its communications, either anonymously or visibly, without acting in concert. Established originally to accommodate professional fund managers, this independent moderator function has proved to be consistently effective in managing orderly processes of issue definition for rational analysis by fiduciaries who are responsible for informed decisions.

Initiated in 1999 by the CFA Society of New York (at the time known as the New York Society of Security Analysts) with lead investor and former corporate investment banker Gary Lutin as guest chairman to address the professional interests of its members, and independently supported by Mr. Lutin since 2001, Forum programs have achieved wide recognition for their effective definition of important issues and orderly exchange of the information and views needed to resolve them. The Forum's ability to convene all key decision-making constituencies and influence leaders has been applied to subjects ranging from corporate control contests to the establishment of consensus marketplace standards for fair disclosure, and has been relied upon by virtually every major U.S. fund manager and the many other investors who have participated in programs that addressed their interests.

Currently important applications of the Forum’s independent position include the support of corporate managers who wish to provide the leadership expected of them by responding to shareholder engagement as well as activist challenges with orderly reviews of issues relevant to long term investor interests.

Requests for Shareholder Forum consideration of support may be initiated confidentially by any investor or by the subject company, or by the professional advisors to either.  


Saturday, July 7, 2001


Coulter likely off the board at Lone Star

By Alan Bjerga
The Wichita Eagle

Lone Star Steakhouse and Saloon Inc. announced "no clear winner" in the vote for chief executive Jamie Coulter's seat on its board of directors Friday at its annual meeting in Austin, Texas. Lone Star Steakhouse and Saloon Inc. announced "no clear winner" in the vote for chief executive Jamie Coulter's seat on its board of directors Friday at its annual meeting in Austin, Texas.

One Wall Street observer said that strongly indicates Coulter lost to challenger Guy Adams, a small investor.

"Management's report of 'no clear winner' pending a careful vote count" is common when a challenger has a shot at taking an incumbent's seat," Gary Lutin, a New York investment banker, said after the Lone Star election.

"It is not common practice to make this kind of announcement when it appears that management has won.

"We may therefore assume that Guy Adams won the vote."

The election for Coulter's seat on the Wichita-based restaurant chain's board has attracted national attention.

Coulter, a prominent Wichita businessman who helped build up Pizza Hut and Rent-A-Center before taking over Lone Star, faced Adams in the board contest. Lone Star, which operates about 300 restaurants internationally, has annual sales of about $600 million.

Lone Star officials were unavailable for comment Friday. A company press release states that Lone Star officials expect to publicly announce final results on July 20 at 10 a.m.

Ballots are currently held by IVS Associates, the election's independent inspectors.

Should Adams be announced the winner, Lutin predicted that Lone Star would attempt to minimize his influence by passing new board rules, or perhaps by expanding the board to create a new seat for Coulter.

"It's still 4-1, with Adams on," he said.

Reach Alan Bjerga at 269-6763 or




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Publicly open programs of the Shareholder Forum are conducted for free participation of all shareholders of a subject company and any fiduciaries or professionals concerned with their decisions, according to the Forum’s stated "Conditions of Participation." In all cases, each participant is expected to make independent use of information obtained through the Forum, and participation is considered private unless the party specifically authorizes identification.

The information provided to Forum participants is intended for their private reference, and permission has not been granted for the republishing of any copyrighted material. The material presented on this web site is the responsibility of Gary Lutin, as chairman of the Shareholder Forum.

Shareholder Forum™ is a trademark owned by The Shareholder Forum, Inc., for the programs conducted since 1999 to support investor access to decision-making information. It should be noted that we have no responsibility for the services that Broadridge Financial Solutions, Inc., introduced for review in the Forum's 2010 "E-Meetings" program and has since been offering with the “Shareholder Forum” name, and we have asked Broadridge to use a different name that does not suggest our support or endorsement.