Hi all,
I was thinking about this notion of forming an activist investor group which has been circulating in this community for a little while. To this day I think it is still unclear what that might look like, how to do it "properly", etc.
Perhaps, at least at this stage, we don't even need a formal group or organization at all, perhaps we just need this community that we already have to take a set of actions in this direction.
For one thing, in my opinion at least, there is no online public community space better than this Lemmy instance to get started on this. This Lemmy instance is owned and operated by DRS'd shareholders of GME and is not beholden to outside influence.
I see no reason why we can't use these very discussions on this Lemmy instance, and elsewhere, to determine precisely what it is that we want to propose to the company, and to then proceed to formally make that proposal.
Here is rough plan of action that we GME investors could take without having to create a formal "group" entity:
- Determine first what it is exactly that we want to propose to the company. For example, there are already some great proposal ideas such as from this post by Chives
- Move to have Computershare act as custodian for IRAs
- Revise the contract of the DirectStock plan
- Issue a bulk of shares to sell directly to investors
- Request that GameStop insiders hold their shares in pure DRS
- Request GameStop to consider becoming their own transfer agent
- Request GameStop to introduce pro reward incentives for registered shareholders
- Once we know what we want to propose, create a formal proposal document that addresses, in detail, some or all of the proposal items we want. Or perhaps, create separate documents, one for each proposal idea.
- Put the proposal documents on a website. It could be any website, e.g. it could be the DRSGME.org website, it could be an entirely new clean website with nothing in it except for a single page with links to each of the proposal documents.
- Eligible shareholders from the community that meet the formal proposal requirements then proceed to individually propose to the company to review the proposals located at the specified website. E.g. it might go something like: "I propose that GameStop reviews the 6 proposal documents found at gme2023communityproposals.org"
At that point, GameStop receives some number of proposal requests from the community, maybe 5, 10, or 100, or more individuals submit such a proposal and each one is identical or very similar to one another, each of them directing the company to review the proposal documents at the target website.
GameStop confirms on their end that each individual that makes a submission in fact meets the requirements and would then have to address the proposed ideas.
Please critique this idea and offer any suggestions you may have.