Resolution Found between FOTA and FIA
Jun 24, 2009 | 06:56 PM
#20
Teamspeed Senior Member
Joined: Jan 2009
Posts: 603
From: Orange County
Seems there's some info and pieces missing. Is Max Mo steppin' off really worth what FOTA just staged? Is he worth the difference they were fighting over in budget? I'm going to shed a little professional speculation on what's happened here if you don't mind and you're interested. What I think has happened is that FOTA now has secured the voting power to install someone in October that will go soft on the budget. It's like a tender offer where a shareholder solicts the outstanding shares of a company that it wants to acquire--over the target company's wishes and defenses. Once the other interested shareholders--in this case GP2, other members of FIA--tender their shares (votes) to the renegade shareholder (FOTA), the renegade can install its own puppet board members at the annual or special meeting of the shareholders. Then those members, obviously, govern the target company (FIA) the way they please (e.g., dissolve the budget cap). I think Max Mo and the others may have realized at this meeting that the FOTA block of "voters" may have enough power to shut him down at the next vote in October. So, rather than stagging a vote and getting clowned, he is stepping down and saving face for himself and the organization by saying "we have reached a deal." To me, the whole "we have reached a deal" in this sudden announcement is a complete cover to the real issue of him being elected out as pres at the next meeting. This has played out very similar to hostile tender offer. I'm not sure how the various members of FIA votes break down, and % of voting power, but I'd LOVE to know.
