Proposition to Ease Shareholder Suits

* Re “Fighting Prop. 211 Becomes Crusade for High-Tech Execs,” Sept. 23: I don’t own enough stock to blow my nose on, but I do have a personal observation concerning the characters inhabiting this story. Although mefinds them humorous, methinks the corporate dudes have an unusual way of drumming up support. One guy says he’d rather “walk through Sherwood Forest in the 16th century than live in a society” where they take your house away, “whether you’re a crook or incompetent.” If I remember my Costner, wasn’t Robin Hood generally considered to be the good guy (and didn’t he live in the 12th century--where do you sign up to be a millionaire)? Another guy says seeing your competitors sued “by someone evil like [William] Lerach, it’s kind of like seeing your mother-in-law go over a cliff in your brand new Cadillac.” You hate to lose the mother-in-law vote right off the bat; and what “victim” concedes he might own such a nice car (that it was American was a nice touch, but we all know the bro’s driving an S-class Mercedes)?

The “evil” Lerach, on the other hand, talks about people “being cheated out of their life savings” by the powerful (he may go too far comparing his clients to concen- tration camp survivors).

Although I doubted (and doubt) Silicon Valley could lose this one, its power brokers had best keep their mouths shut. That they haven’t bespeaks either collective confidence or foolish bravado. Perhaps they should ask the Muslims who won the Crusades (see, this is where the Robin Hood thing fits in).

BILL AMSBARY

Irvine

* No one should invest in any stock without doing research (lots of research) on the company they are considering. I have been investing for years and I spend hours evaluating a company before I invest in it. Do all my stocks go up? Of course not, but when they go down I only blame myself, not the company.

Lerach represents what is bad in the legal system: always ready to sue and blame someone else for a bad outcome, rather than accepting responsibility for one’s decisions. I don’t for one second believe that he is suing for the investor; he’s out to line his pockets and in doing so is taking even more money from the stockholders. By defeating Prop. 211 all of California (except Lerach) will benefit.

PETER GRAY

Rancho Santa Fe