There's a full page ad in todays (12/23/10) Cleveland Plain Dealer in section A9 blasting Cedar Fair for having Dick Kinzel as both Chairman of the Board and CEO of Cedar Fair. Very powerful evidence on company performance since Mr. Kinzel became Chairman May 21, 2003. Don't know how to provide link to newspaper page, but, in my opinion, a must read to pointbuzz followers. I'll try to follow up on online link.
Frito Joe
Thanks Walt. That was published on a full page in the Cleveland Plain Dealer today. Do you think Cedar Fair will respond, or wait and see how the vote goes?
Frito Joe
I'm not a Kinzel fan, but I doubt this proposal will be approved. More savvy investors realize that it is bad business to have the stockholders setting the dividend rate. Their argument was going well until that proposition comes in at the end of the ad. Besides, just separating CEO and Chairman in no way guarantees that Kinzel's influence will be diminished. All he has to do is put a puppet in as CEO.
I think Elmo would arguably do a better job as CEO than Dick has.
My author website: mgrantroberts.com.
Rapids 77-78 said:
Besides, just separating CEO and Chairman in no way guarantees that Kinzel's influence will be diminished. All he has to do is put a puppet in as CEO.
Except that the proposal is to keep him at CEO and remove him from the board. He won't have any (direct) say over who is elected CotB.
Goodbye MrScott
John
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