Saturday, April 30, 2011

1) when you found out about sokol I do not understand ur reaction, u said u would be ruthless and you weren't, the press release was not direct or clear and you praised sokol, you expressed no anger why did you handle so inadequatley?

I learned march 14, I got a call from John Froin works for citi and Chicago and called wb said congrats and said citis team that worked with dave were proud to be part of it and this was news to me and the next day I had mark cfo call dave and ask what happened, he said he called to get a number from citi which was an understatement.
I was waiting for draft of lunrizol proxy because I was leaving for asia, the most imprtant part of proxy is history transaction. I got that the afternoon if the 18th and it had a lot of info about dave and citi and at that point Munger Tolls olsen got involved. Ron Olsen was on trip to asia and on mar 26 we knew mto was being intereviwed three times and what happened. I don't have a bberry but ron does, I was getting some info but we decided we needed a board meeting when we got back on 26th on 28th we were going to bring Charlie into it. On the 26th he sent me his retiring, and maybe interviews did it, retirement saved us money so we don't have a litigate. So I sent out press release which has been the subject of mild critiscm. I ran it by dave, and he removed one line about how wb knew he would not be a sucessor because he said he didn't want to be. Both reviews and his cnbc appearance he didn't feel neeto correct facts. Board met they called the SEC. As far as I was comcerned dave was gone, minimal severance and sent damming evidence to authority
Now ppl wanted me to be more anger in pr

Cm _ that was not the most clever pr, you don't want to make decisions while angry. You can always tell a man to go to he'll tomorrow if you think its such a.good idea. It could have been more angry but.I think virtues is as important as error