BMC proxy fight - Elliot Mgmt
Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I'm glad that BMC did not completely lose themselves in SaaS, what I see as another 'bubble' technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.netmailto:jdsen...@earthlink.net 310.829.5552 Kelly Logan, Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.commailto:kelly.lo...@proquest.com www.proquest.com ProQuest...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer. ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Sender jdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
I am wondering what Elliott's end game is. Are they simply trying to make stock they own more valuable, or do they have MA ideas? Their actions thus far could lead in either direction. Rick On Jun 20, 2012 9:55 AM, pritch pri...@ptd.net wrote: Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Sender jdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
Oh, I don't know about that. It would seem that BMC is a more attractive acquisition target if it remains undervalued. If Elliott is successful in what it *says* it wants to do, who wants to buy a company selling for full price/value when it could have been had for less? Rick On Jun 20, 2012 10:15 AM, Campbell, Paul (Paul) p...@avaya.com wrote: There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
I've seen these types of situations play out before, and basically what generally happens is one of two things: 1) the management of the corporation makes some changes to take the wind out of the sails of the activist investor(s), or 2) the management of the corporation is replaced by people chosen by the activist investors. It's clear that Elliot Management has no interest in what BMC does, and is completely focused on the stock price going up so they can sell and make a profit as quickly as possible. Based on what I've seen in the news, it doesn't look like BMC's senior management is budging even an inch, and it's likely that folks from Elliot have been focused on getting the institutional stock holders on board with a sale. Personally, I think a sale could be a good thing (or it could be terrible, but I prefer to be optimistic.) Dell, for example, has nothing like BMC's toolset, so it wouldn't be a matter of trying to kill off Remedy or anything else if they bought it. IBM I would be a little less positive about since they supposedly have a competitor to Remedy with some modules of Tivoli, and Oracle is too complex to say one way or another at this point. In any case, I think Remedy itself is a strong enough product someone would have to be extremely foolish (like Peregrine's management) to try to get rid of it. Thanks, Shawn Pierson Remedy Developer | Energy Transfer From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of Rick Cook Sent: Wednesday, June 20, 2012 9:01 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt ** I am wondering what Elliott's end game is. Are they simply trying to make stock they own more valuable, or do they have MA ideas? Their actions thus far could lead in either direction. Rick On Jun 20, 2012 9:55 AM, pritch pri...@ptd.netmailto:pri...@ptd.net wrote: Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.commailto:kelly.lo...@proquest.com To: arslist@ARSLIST.ORGmailto:arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I'm glad that BMC did not completely lose themselves in SaaS, what I see as another 'bubble' technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.netmailto:jdsen...@earthlink.net 310.829.5552tel:310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777tel:734.997.4777 kelly.lo...@proquest.commailto:kelly.lo...@proquest.com www.proquest.comhttp://www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.comhttp://www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.orghttp://www.arslist.org attend wwrug12 www.wwrug12.comhttp://www.wwrug12.com ARSList: Where the Answers Are _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ Private and confidential as detailed here: http://www.sug.com/disclaimers/default.htm#Mail . If you cannot access the link
Re: BMC proxy fight - Elliot Mgmt
Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Sender jdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
That one just confuses me. First paragraph says major stock holder, then the text says 6.5% That means 93.5% of stockholders aren't them, why does the system allow the hair on the tail to wag the dog? -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: June 20, 2012 10:58 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I m glad that BMC did not completely lose themselves in SaaS, what I see as another bubble technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
Most of the stock is held by non-BMC folks. According to http://finance.yahoo.com/q/mh?s=BMC+Major+Holders it says that 91% of the shares are held by institutional and mutual fund owners. For example, the top mutual fund holder according to that is DODGE COX STOCK FUND which has 5.10% of the outstanding shares (8,215,140.) Compare that with Bob Beauchamp, who has 658,211 shares. 6.5% is a huge amount, and the different investor groups that make up that 91% are more likely to sympathize with Elliot Management than with BMC's internal management. Thanks, Shawn Pierson Remedy Developer | Energy Transfer -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of arslist Sent: Wednesday, June 20, 2012 10:21 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt That one just confuses me. First paragraph says major stock holder, then the text says 6.5% That means 93.5% of stockholders aren't them, why does the system allow the hair on the tail to wag the dog? -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: June 20, 2012 10:58 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I m glad that BMC did not completely lose themselves in SaaS, what I see as another bubble technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org
Re: BMC proxy fight - Elliot Mgmt
Maybe it's time for an open letter on behalf of the people who actually use BMC software to inform the stockholders of the dangers of allowing a private investment firm to push their own people onto the board of directors because they haven't been able to make a compelling enough business case to make the current board do what *they* want. -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 10:58 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto:arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Sender jdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are
Re: BMC proxy fight - Elliot Mgmt
Most people trade stock to make money. The value of the proposition from asset management firms versus the customers of the products align to that 'money making' goal very differently. What they plan to offer may not be a bad thing. Consider the discussion thread on becoming a partner. On Wed, Jun 20, 2012 at 11:10 AM, Logan, Kelly kelly.lo...@proquest.comwrote: Maybe it's time for an open letter on behalf of the people who actually use BMC software to inform the stockholders of the dangers of allowing a private investment firm to push their own people onto the board of directors because they haven't been able to make a compelling enough business case to make the current board do what *they* want. -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 10:58 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers
Re: BMC proxy fight - Elliot Mgmt
3 of the 4 board members being pushed by Elliott are ex HP board members that were around in the days when the current CEO of Oracle was the CEO of HP. And Oracle is one of the companies that seems to continue to come up in the discussions. Coincidence or just a small world? - Original Message - From: Axton axton.gr...@gmail.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 12:40:54 PM Subject: Re: BMC proxy fight - Elliot Mgmt ** Most people trade stock to make money. The value of the proposition from asset management firms versus the customers of the products align to that 'money making' goal very differently. What they plan to offer may not be a bad thing. Consider the discussion thread on becoming a partner. On Wed, Jun 20, 2012 at 11:10 AM, Logan, Kelly kelly.lo...@proquest.com wrote: Maybe it's time for an open letter on behalf of the people who actually use BMC software to inform the stockholders of the dangers of allowing a private investment firm to push their own people onto the board of directors because they haven't been able to make a compelling enough business case to make the current board do what *they* want. -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG ] On Behalf Of pritch Sent: Wednesday, June 20, 2012 10:58 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG ] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Sender jdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender, and delete the message from your computer . _attend WWRUG12 www.wwrug.com ARSlist: Where the Answers Are_ ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com ARSList: Where the Answers Are ___ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug12 www.wwrug12.com
Re: BMC proxy fight - Elliot Mgmt
I say small world. The number of people who professionally serve on boards is small. I can't find it anymore, but there used to be a diagram around on the intranet that showed the interrelation of the board members of the X largest companies in the US. Thanks, Jon _ Jon Slaven | Amway | 616-787-7132 | jon.sla...@amway.com From: pritch pri...@ptd.net To: arslist@ARSLIST.ORG Date: 06/20/2012 12:46 PM Subject:Re: BMC proxy fight - Elliot Mgmt Sent by:Action Request System discussion list(ARSList) arslist@ARSLIST.ORG 3 of the 4 board members being pushed by Elliott are ex HP board members that were around in the days when the current CEO of Oracle was the CEO of HP. And Oracle is one of the companies that seems to continue to come up in the discussions. Coincidence or just a small world? - Original Message - From: Axton axton.gr...@gmail.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 12:40:54 PM Subject: Re: BMC proxy fight - Elliot Mgmt ** Most people trade stock to make money. The value of the proposition from asset management firms versus the customers of the products align to that 'money making' goal very differently. What they plan to offer may not be a bad thing. Consider the discussion thread on becoming a partner. On Wed, Jun 20, 2012 at 11:10 AM, Logan, Kelly kelly.lo...@proquest.com wrote: Maybe it's time for an open letter on behalf of the people who actually use BMC software to inform the stockholders of the dangers of allowing a private investment firm to push their own people onto the board of directors because they haven't been able to make a compelling enough business case to make the current board do what *they* want. -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG ] On Behalf Of pritch Sent: Wednesday, June 20, 2012 10:58 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Then again, here's a link from about 45 minutes ago : http://finance.yahoo.com/news/elliott-presents-analysis-outlining-multiple-141700446.html - Original Message - From: Paul Campbell (Paul) p...@avaya.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 10:13:54 AM Subject: Re: BMC proxy fight - Elliot Mgmt There goes the neighborhood! I hope this doesn't turn out like the Peregrine purchase of Remedy! -Original Message- From: Action Request System discussion list(ARSList) [mailto: arslist@ARSLIST.ORG ] On Behalf Of pritch Sent: Wednesday, June 20, 2012 9:56 AM To: arslist@ARSLIST.ORG Subject: Re: BMC proxy fight - Elliot Mgmt Annual meeting is July 25, so I wouldn't expect any fireworks until around then. The interesting thing is one of the votes on the agenda is: 5. TO VOTE ON A STOCKHOLDER PROPOSAL SUBMITTED BY ELLIOTT ASSOCIATES, L.P. AND ELLIOTT INTERNATIONAL, L.P. REGARDING THE REPEAL OF PROVISIONS OR AMENDMENTS OF THE COMPANY'S AMENDED AND RESTATED BYLAWS, AS SET FORTH IN THE PROXY STATEMENT. While there's no other details that I can find, I'm assuming this is the repeal of the poison pill amendment that was adopted by the board. Will be interesting to see how the stockholders feel. - Original Message - From: Kelly Logan kelly.lo...@proquest.com To: arslist@ARSLIST.ORG Sent: Wednesday, June 20, 2012 9:11:52 AM Subject: BMC proxy fight - Elliot Mgmt ** Regarding the links that Joel noted (see below), does anyone else have some insight into the accusations made by Elliot Mgmt? Personally, I’m glad that BMC did not completely lose themselves in SaaS, what I see as another ‘bubble’ technology that will be bursting in the next few years as companies realize how little value they get from most SaaS vendors, and how much they have to spend to do even the most basic customization. What are opinions on the sales and other issues? Any sales/partners that would like to chime in on this? ** This may explain the silence: http://www.informationweek.com/news/software/infrastructure/240002100 http://www.marketwatch.com/story/bmc-software-responds-to-elliott-managements-letter-2012-05-21 http://www.marketwatch.com/story/elliott-files-definitive-proxy-statement-for-bmc-software-2012-06-14 http://blogs.wsj.com/deals/2012/06/12/bmc-software-fights-back-against-elliott-says-its-not-for-sale/ Joel Joel Senderjdsen...@earthlink.net 310.829.5552 Kelly Logan , Sr. Systems Administrator (Remedy, Planview), GMS ProQuest | 789 E. Eisenhower Parkway, P.O. Box 1346 | Ann Arbor MI 48106-1346 USA | 734.997.4777 kelly.lo...@proquest.com www.proquest.com ProQuest ...Start here. 2010 InformationWeek 500 Top Innovator P Please consider the environment before printing this email. This email and any files transmitted with it are confidential and intended solely
