Let’s start with this: I agree that with 14a-11 on hold pending litigation coupled with the fact that as of May 31, 2011 PTSC will no longer be an accelerated filer, it will be a 3 year wait before shareholders can nominate their candidate (without BoD approval)

Now let’s move on to what happened at the PTSC Annual Shareholder Meeting

Proposal No. 3 – Stockholder proposal requesting that our Board of Directors amend our charter documents to provide for the election of directors by majority vote

I have not seen nor do I know of anyone who has seen the amended charter documents that addresses majority voting for PTSC

. Assuming we use the standard as outlined below (From Starbucks Def 14), then my guess is that Gloria and Carl (and Cliff) would probably be gone if the vote against was greater than the vote for.

Majority Vote Standard in Uncontested Director Elections

We have adopted majority voting procedures for the election of directors in uncontested elections. In an uncontested election, nominees must receive more “for” than “against” votes to be elected. The term of any director who does not receive a majority of votes cast in an election held under the majority voting standard terminates on the earliest to occur of (i) 90 days after the date election results are certified; (ii) the date the director resigns; or (iii) the date the board of directors fills the position. As provided in our bylaws, a “contested election” is one in which:

as of the last day for giving notice of a shareholder nominee, a shareholder has nominated a candidate for director according to the requirements of our bylaws; and

the board of directors considers that a shareholder candidacy has created a bona fide election contest

http://www.wikinvest.com/stock/Starbucks_(SBUX)/Filing/DEF_14A/2010/F30824179