A dead letter to Dillard's
Investment group wants four Dillard's board seats so as to improve management of the Little Rock-based department store chain. They might as well demand that the company advertise in the Arkansas Gazette while they're at it.
On the other hand, maybe Dillard's will look to the example of the NY Times in a similar posture with unhappy hedge fund investors.
Nah.
Comments
I've forgotten the conversion multiple in this two tier stock, but I doubt that Barrington can force any change.
Buddy, J.C., John Paul, Will etc. all serve at the pleasure of the Dillard's.
I can remember a Director in the 80's looking for a soundbite and saying something like "We should look at this" and promptly being dismissed by Mr. Dillard after the Annual Meeting to never return again. This is a company where the boy's will do as they want, when they want.
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March 19, 2008 09:12 PM