Re: [ALSC-Forum] An idea and some thoughts

[Jeff Williams]

Esther and all stakeholders or interested parties,

Esther Dyson wrote:

> although many corporate shares are voted by institutions on behalf of
> individuals who have no knowledge of that process.... FWIW.

  Yes.  And most shares are voted by the share holders, according to
the SEC.  Many are voted using an electronic (Over the internet)
voting process, BTW.  I have done so on many occasions for
shares I hold or own...

>
>
> Esther
>
> At 12:31 AM 8/31/2001, Kent Crispin wrote:
>
> >On Thu, Aug 30, 2001 at 06:07:42PM -0700, desertbobp wrote:
> > > Has anyone in this august group ever considered the process used for
> > on-line
> > > voting of shares of stock?  I do this all the time and it seems to work
> > > well.  I don't know how secure it is, but if you consider the possiblities
> > > of using this mechanism to conduct a proxy war for control of a
> > company, you
> > > would have to think they have at least given the security issue some
> > serious
> > > thought.  Check it out.
> > >
> > >  http://www.proxyvote.com/
> >
> >Check out http://www.vortex.com/privacy/priv.09.14 (text starts partway
> >down the page).  There they describe a different proxy voting service,
> >but the point remains.
> >
> >In general, voting in for profit corporations is very different than the
> >kind of vote we have here, and it is completely inappropriate for the
> >task.  In particular, votes are explicitly bought -- the more shares you
> >own, the more votes you get.  Not only does this change the voting
> >mechanics, it also drastically alters the opportunities and the
> >incentives for cheating.  Moreover, the reporting and secrecy
> >requirements are completely different -- your ownership of shares is
> >recorded, with the vote that goes along with them.
> >
> >--
> >Kent Crispin                               "Be good, and you will be
> >kent@songbird.com                           lonesome." -- Mark Twain
>
> Esther Dyson                    Always make new mistakes!
> chairman, EDventure Holdings
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Regards,

--
Jeffrey A. Williams
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