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From:
Gary Lutin
Sent: Friday, June 29, 2007 2:06 PM
Subject: Professional obstructionist attacks "deconstructivist"
communications
To stimulate thinking about corporate
governance while you celebrate the foundations of our free society over
the Fourth of July, you'll find copied below a memorandum attacking the
idea of people assembling to discuss their common interests.
(If you can't read the memorandum in this
email, it can be downloaded in
PDF form from the Forum web
site.)
The referenced Pfizer plan for meetings
between directors and investors is at the very least a constructive
experiment that will encourage a more effective understanding of shared
investor and management interests in the corporation's long term success.
This open exchange of views will certainly benefit all investors, as well
as all the corporate directors and executives, fund managers, and
professional advisers who are genuinely trying to serve investors. It
will harm only those whose careers are based on the obstruction of
those interests.
For Pfizer's announcement of the meeting plan
and other views of it, see the following:
It should be noted that Pfizer's plan for
investor meetings was initiated independently of any Forum program. The
underlying views of common management and investor interests are of course
consistent, though, with the principles
for equity-based compensation developed by the Forum Advisory Panel in
which they participated. These views are also consistent with the
recently reported Aspen and CED
panels' principles concerning long-term corporate performance in which
Pfizer participated.
Your comments will be welcomed, as always.
GL
Gary Lutin
Lutin & Company 575 Madison Avenue, 10th Floor New York, New York 10022 Tel: 212-605-0335 Email: gl@shareholderforum.com
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