Just back to my office
posted on
Dec 10, 2008 10:50AM
Well, that's the AGM out of the way for another 15 months. I was really hoping that the options vote would be a show of hands. But it went to a ballot. Appoximately 26% of the outstanding shares were represented, I recall, and looking at their faces (Tom & Jerry) it looked pretty close when they were handed the results. But it passed.
We had the usual pitch served up to us. I was impressed that they have now moulded all the benefits together to take the emphasis off fuel ecomony alone and bring reduced maintenance, less down-time, fewer emmisions, increased horsepower or moving to a smaller motor to the fore. This is important now that fuel prices have dropped.
Jerry did a good job. The Q&A got wrapped up pretty sharpish when the questions turned to the SP. Prior to that some hard(ish) questions were asked. There were, in my opinion, at least 3 brokerage representatives present. One identified herself as such. At first I thought she was a plant, but listening to the banter after the meeting adjourned I changed my mind. As someone pointed out yesterday the questions were softened somewhat in view of this, I saved my pointed questions until after the meeting. During the meeting I did question the state of the nation re HFS & Equity. Jerry said that all is well.
I got the impression that our new California connection isn't quite as new as the NR would suggest and this guy may well have come to the table armed with prospective sales that may well come to fruition soon. I also think that being so close to CARB things will start moving there soon. But, these are just hunches.
I'll review my notes and see if there's anything else that sticks out sometime over the next few days. Back to work now though.
Thanks for saying Hi, all those who attended.
Rich
PS. If they time it right maybe they'll call the next AGM on St Patrick's Day.