The Committee of Concerned Luby's Shareholders, P. O. Box 6983,
Tyler, Texas 75711, 800/657-2286
E-mail: [email protected]
WHAT IS THE BOD'S CONCEPT OF THE "GOLDEN RULE"?
Several months ago, the Committee of Concerned Luby's
Shareholders requested that Luby's inform the Committee of the
rules/protocols to be employed by Luby's in conducting the Annual
Meeting. Initially, Luby's informed the Committee that a writing
containing the rules/protocols would be provided by December 15,
2000. Shortly before December 15, 2000, the Committee repeated
its request and reminded Luby's of its prior representation.
Luby's took the position that information as to the
rules/protocols was not "available," but would be provided to the
Committee "at the appropriate time." The Committee further
inquired of Luby's as to when it anticipated "the appropriate
time" would arrive. Luby's has failed, and thus refused, to
respond.
Has the "Golden Rule" for the BOD become "Those who have the
gold make the rules"?
WHO "COUNTS"?
Stalin has been paraphrased as saying, "Those who caste
ballots do not determine the outcome of an election. Those who
count the ballots do."
Several months ago, the Committee requested that Lubys
appoint three (3) independent inspectors of election. Luby's has
not informed the Committee whether it will do so. The Committee
requested that Luby's inform the Committee of the identity of the
inspectors of election. Again, Luby's has failed, and thus refused,
to do so.
SILENCING "LAMBS"?
After collective capitalization losses of $1/3 billion in
the past three years, Shareholders might have something to say at
the Annual Meeting. The Committee has concerns as to whether all
Shareholders who want to be heard will be allowed to speak at the
Annual Meeting. Will the BOD impose artificial time constraints
to silence criticism? Will the BOD impose physical restraints,
e.g. no easily available microphones?
MORE THAN GAMES!
The BOD should understand that Shareholders will not tolerate
games of hide-the-ball and an apparent lack of understanding of the
fundamental principles of fairness. We, as Shareholders, are entitled
to and do rightfully expect more from persons with whom we entrust the
future of Luby's.
PLEASE VOTE THE BLUE PROXY.
