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.  


Forum Report: Willamette and Weyerhaeuser Chairmen's Responses to May 29 Letter

(June 5, 2001)

From: Gary Lutin
To: Distribution: Willamette Shareholders
Sent: Tuesday, June 05, 2001 10:28 AM
Subject: Responses to 5/29 letter

The responses of both Willamette's and Weyerhaeuser's chairmen -- or, more accurately, their failure to respond -- indicates that both sides are dedicated to fighting rather than negotiating.
Willamette's Swindells essentially reaffirmed his "go away" position.
Weyerhaeuser's Rogel never called, apparently changing his mind after asking me to wait for his return on Monday (yesterday).
Under these circumstances, shareholders should assume that there is a high probability that both sides will continue their squabbling after the June 7th vote.  Willamette's management has demonstrated their dedication to a "no surrender" strategy and can be expected to focus on disparaging Weyerhaeuser and its delegates' disruption of Willamette's board.  Weyerhaeuser, by their failure to exploit my letter's opportunity to position themselves for negotiations, has signaled their very logical adoption of a standard strategy for completing the acquisition of a "captive" company at the lowest possible cost -- after allowing some deterioration in market value, which they will of course blame on Willamette's management.
There appears to be little chance now that either side will be genuinely receptive to a cooperative process of negotiation, either before or after the vote.  (Of course, as part of their positioning, both sides will probably claim that they would be willing but that the other side is obstructive.)  But I will continue to observe the situation, and will welcome suggestions of anything I might do to support shareholder interests.
                GL - 6/5/01 




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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.

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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.