Sirius board member very Stern-like - absent from meetings for three years

Discussion in 'The Howard Stern Show' started by Silent Stripper, May 28, 2012.

  1. Silent Stripper

    Silent Stripper New Member

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    I'll save you very busy people the trouble of reading this entire article.

    The corporate mentality at Sirius that permits Stern to have his bullshit two or three day work weeks is pervasive.

    This fucker Leon Black is on the board of directors and hasn't been to a fucking meeting in three years!

    And guess what, the fucker got re-elected.

    Only in America! And only at Sirius.

    No wonder the stock is in the shitter.





    No-Show Director Re-Elected

    Sirius XM Shareholders Vote 2-to-1 Against Leon Black, but He Keeps His Seat

    By John Jannarone
    The Wall Street Journal
    May 26, 2012

    http://online.wsj.com/article/SB10001424052702304840904577426300810665734.html

    Sirius shareholders expressed their dissatisfaction with Mr. Black earlier this week, when they voted against his re-election to the board by a majority of nearly 2-to-1. But Mr. Black kept his seat anyway because there were no alternative candidates.

    Investors holding 955 million shares voted against Mr. Black while only 512 million shares were voted for him, Sirius said in a regulatory filing Thursday. There are about 3.8 billion shares outstanding.

    Mr. Black is the founder and chief executive of private-equity giant Apollo Global Management, APO +0.77% which owns 0.75% of Sirius shares, according to FactSet, but has been an investor in the company for over a decade.
    Apollo spokesman Charles Zehren declined to comment. A Sirius spokesman didn't respond to requests for comment.

    Sirius determines board directors based on plurality, meaning that the eight nominees who received the most votes would be elected. There were only eight nominees. All seven of Sirius's other directors who were up for re-election received an overwhelming number of votes in their favor.

    Mr. Black was also re-elected to the satellite radio company's board in 2010 despite a small majority of negative votes. Last year, he got majority support.

    Mr. Black has been on the Sirius board since 2001. The Wall Street Journal reported in April that Mr. Black hasn't attended a Sirius board meeting in the past few years, either in person or by phone. It isn't known whether he has attended meetings held since then. Sirius has said in filings that from 2007 to 2011, Mr. Black was the only director who didn't attend at least three quarters of the company's board meetings.

    In early May, two prominent shareholder advisory firms, Glass Lewis & Co. and Institutional Shareholder Services, both advised investors to vote against Mr. Black, citing his poor attendance record. "Directors who do not attend their board and committee meetings cannot be effective representatives of shareholders," ISS said in its report.
    In a filing last month, Sirius said that "Mr. Black has regularly advised our directors and executive offices on various matters of significance, including financings and strategic transactions." Sirius also says that Mr. Black's experience in private equity "brings a long-term strategic perspective to the board's deliberations."

    Mr. Black worked at Drexel Burnham Lambert in the 1980s before founding Apollo in 1990 and now has trustee roles at the Museum of Modern Art and the Metropolitan Museum of Art.

    Sirius is in the midst of a battle for control with Liberty Media Corp., LMCA +0.50% the investment company controlled by media mogul John Malone. Liberty holds preferred shares convertible to 40% of the common shares and it also owns or has agreed to buy a total of another 6.2% in common shares.

    But Liberty doesn't appear to have held any common shares in time to vote at the meeting. A person familiar with the matter said Liberty didn't vote against Mr. Black.
     
  2. isabella

    isabella VIP Extreme Gold

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    i believe howard went to this assholes birthday and commented about it on the show. i had never heard him flatter someone as much as he did this particular vulture. commented about his house, art collection and children being oh so wonderful.
    he was so impressed about this super-wealthy dude....it made me cringe.
    the man is a hedgefund manager in addition to being on sirius' board.
    he makes money by breathing and doesn't have to put in a second of work.
     
    Last edited: May 29, 2012
  3. Scott

    Scott Masshole Staff Member

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    Yup. He's the one that paid Elton John a million to play at his birthday party.
     
  4. k4D3t

    k4D3t Reverse Apache Master VIP

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    Leon Black[​IMG]
     
  5. Scott

    Scott Masshole Staff Member

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    A rich jew with a bad wig that has a high paying no show job at Sirius. No wonder they get along so well. Howard is his understudy. Does he have a dumb trophy cunt too?
     
  6. Scott

    Scott Masshole Staff Member

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    Oh, and with all that money, why doesn't he get his yel' like pee teeth fixed?
     
  7. AGT Blows

    AGT Blows Well-Known Member

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    That's one very punchable face.
     
  8. BethSucks

    BethSucks Well-Known Member Staff Member

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    That fuck is the problem with our economy, he makes his money by buying businesses, laying off the American workers, replacing them with cheap foreign workers and keeping the cash for himself. Howard lathers his balls because they are both completely lacking in character or integrity.
     
  9. Obi Drunkenobe

    Obi Drunkenobe VIP Extreme Gold

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    I'm with you on that BethSucks. My grandfather was a radio operator in ww2, after the war was a field engineer for RCA. I always thought if you worked hard played by the rules good things would happen. Instead we get shitcocks like stern and this ass clown being the measure of success in this country
     
  10. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

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    :lol:

    [​IMG]
     
  11. Ruffypup

    Ruffypup Well-Known Member

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    I thought Leon was a black cat. :dontknow:
     
  12. Nemo

    Nemo Beer Can Thick Gold

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    :jj:
    Wiggy's hero!
     
  13. Ruffypup

    Ruffypup Well-Known Member

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    Leon is a fat cat. :afro:
     
  14. Nemo

    Nemo Beer Can Thick Gold

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    Wiggy loves Black people....:yay:
     
  15. Ruffypup

    Ruffypup Well-Known Member

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    Wiggy loves flexible gay black men that perform on the street and back alleys, not the chubby grey headed jolly ones that sing 80s television white theme songs :bigcry:
     
  16. whatsit

    whatsit Dawg Lover VIP

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    When I was watching that guy I imagined you singing along. :D
     
  17. Ruffypup

    Ruffypup Well-Known Member

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    Haha..............I was.
     
  18. prefect

    prefect New Member VIP

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    It's good to be the king. :(
     
  19. HowieStearn

    HowieStearn HateClub

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    Wiggy loves gay men :hump:
     
  20. Nemo

    Nemo Beer Can Thick Gold

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    [​IMG]