Circuit City shareholder repeats position
Wattles Capital Management is getting some free p.r. today, having sent a letter to Circuity City’s board and then disseminating the letter via PRNewswire (to read the letter, click here).
No real news to report here, as Wattles merely reiterates its boilerplate position. Note to shareholders: if Wattles leads Circuit City with the same weak effort that Wattles is putting into this proxy fight, Circuit City shareholders will not be better off. It takes more than letters addressed to the board to win a proxy fight, and it takes more than hindsight to run a company.
Wattles’ slate of 5 directors is still set to compete against Circuit City’s slate at the June 24th annual shareholder meeting.
