I hope Mel stays on. If he leaves, the market will sell the stock off, big time. I hope Redstone is smart enough to know that, but you never can tell with egomaniacs. --reasonable10I agree with you. However, some sources are telling me that it is a pretty much foregone conclusion that Mel will exit when his contract expires. Granted, many things can change the dynamics between now and next year, but for the moment, it does seem that Mel K. will leave.In other indirectly related news . . ."MarketWatch.com tops quarter's goals" "Financial news firm posts first cash-flow-positive quarter" By Bambi Francisco, CBS.MarketWatch.com Last Update: 5:15 PM ET Jan. 29, 2002"SAN FRANCISCO (CBS.MW) -- MarketWatch.com reported Tuesday that its fourth-quarter net loss narrowed as continued cost-cutting helped the company achieve its first cash-flow-positive quarter."". . . . CBS parent Viacom (VIAB: news, chart, profile) and Pearson PLC (PSO: news, chart, profile), which publishes the Financial Times and other publications, own significant stakes in the financial-news media company. MarketWatch.com is the publisher of this report."http://cbs.marketwatch.com/news/story.asp?guid=%7B0EA79121%2DB606%2D4343%2D805A%2D3EF1877767CF%7D&siteid=mktw
LA Times is reporting today that Redstone may be trying to force Karmazin out at upcoming board meeting. Sources say he wants to fire him, but must get majority approval from the board. Board is expected to order the 2 to work out their differences.I'll tell you how I'd like to see these differences get "worked out." I'd like to see Redstone take a long walk off a short pier. His ego is the biggest thing holding the company and the stock price down. If he forces Karmazin out and the stock tanks, I hope a class action suit against him brings him to his knees.
I'll tell you how I'd like to see these differences get "worked out." I'd like to see Redstone take a long walk off a short pier. His ego is the biggest thing holding the company and the stock price down. If he forces Karmazin out and the stock tanks, I hope a class action suit against him brings him to his knees.I agree with you all the way to the bank. Redstone thinks he owns everything -- including the BOD. It's high time for Redstone to retire and to transfer his job and his responsibilities to Mel Karmazin.VIA is now selling UPN? Why is this the case? Does VIA need the cash or is UPN just no longer performing? Mind you, Mel did not bring UPN with him in the CBS deal. Anyway . . .The way I understand it, 14 of VIA's 18 board members would have to vote Mel out. It may boil down to your comments. If the BOD makes the wrong decision by voting Mel out, they'll have likely made the decision to vote down the price of the stock, the valuation of the company, and bring on an assault against them all by all of us shareholders and stakeholders alike.
I don't see Redstone going away anytime soon. He owns half the company, gets to play with it like it's his own personal toy, and he gets to have lunch with all of Hollywood's movers and shakers.
I guess only a few things in life are certainties, among them death and taxes and in no particular order. Now I don't wish either of these things on any one of us (with the exception of murdering terrorist types). Be that as it may, I'd hate to see Mel leave. I hope it does not come to that. Time will tell
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