Message ID: 232751
Posted By: stats_for_all
Posted On: 2005-02-06 12:09:00
Subject: Proxy Fight
A SCOX proxy fight is in the cards.
It is a relevant time to review the current board.
Insiders ( committee positions)
1. Yarro, COB, , Nominating
2. Mott, Compensation
3. McBride, CEO
4. Skousen Audit, Nominating chair
5. Campbell Audit chair, Nominating
6. Thompson Compensation chair, Audit,
7. Iacobucci Nominating, Compensation
8. [vacant] (Raimondi resignation) Compensation, Audit,
Skousen serves a VP of BYU. He fired the athletic directors in Sept. 04 for their role in the BYU football scandals. He was excoriated in the local press for these firings. The Skousen family is prominent in Utah. A uncle (?) was chief of police for Salt Lake, and latter founded a ultra-conservative "constitutionalist" group. A nephew, Mark, claimed to be a CIA analyst, and now runs a "stock tip" sheet. The Skousen family was part of the earlier Mormon exodus to Mexico over plural marriage.
Campbell and Thompson are partners in EsNet and related ventures. They own (in partnerships) the Canopy real estate (Gateway Technology Center)*, recieving >$700K in lease payments from SCOX for its portion of the floorspace. Campbell (not Thompson) was granted accelerated vesting at change of control in the Dec 8 employment agreement.
Iacobucci is nominally the most independent director. He was grouped with Yarro and Mott in the 2004 Institutional NO proxy votes. Gossip, reprinted in the "Register" (November), said he had grown tired of his private jetting around the world, and was preparing to lead a computer company. Iacobucci has a tangled history with IBM for his creation of OS/2. He was latter forced out of CItrix.
Mott and Yarro may escape the "insider" designation this year, as 3 years have elapsed since Canopy had> 50% control.
*Utah Business Entity Search, yields Donald Sanborn, Park City as the Registered Agent of Gateway Technology Center, LLC., EsNet website clearly identifies Gateway as in the EsNet real estate portfolio. EsNet leased the previous headquarters to Caldera as well (source: Onecle contracts, SEC filings)
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