Cisco Update #3 to Shareholders
Cisco Update #3 to Shareholders – Ralph Nader
Dear “Upset” Cisco Shareholder:
Attached is my latest letter to Mr. Chambers which describes a course of action that we together can take. Bloomberg Financial reported this letter to the public on Monday, October 10, 2011. (Read it here: http://nader.org/index.php?/archives/2324-Letter-to-CISCO-CEO-John-Chambers.html)
Cisco management still doesn’t “get it” when it comes sending adequate dividends to the company’s owners.
Here is the next step that we could take, if you are so inclined, to up the pressure. Shareholders can pledge to send to a designated fund one cent for each share they hold. When the pledges add up to a total of $60,000, the pledgers will then fulfill their pledge to support for a year a full-time watchdog and prodder to push Cisco management to pay larger dividends. This person will work under my volunteered supervision and guidance.
To start the ball rolling, I’ll pledge double — two cents a share or $360.
You can sign the attached pledge, which is not legally binding. When the $60,000 mark is reached, I’ll ask you to fulfill your pledge.
With this idea, we can raise the power of shareholders to a new level of constancy. After all, we are all busy with other work but we can back a daily human laser beam on Cisco’s decision-makers in this manner.
Thank you, and spread the word to other Cisco shareholders.
A pledge form is attached. You can print and send me a hard copy, or send an email to [email protected] to tell me your level of interest and support.
P.S. See this link to Wall Street Journal (Oct 12, 2011) “Buying Shares, Buying Trouble” on the “dismal results” of stock buybacks by the 30 Dow Jones companies. http://online.wsj.com/article/SB10001424052970203499704576622980752831562.html