-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WX3WnABUisbWBZkhhxgePkyjbpsYhAyZ4q00ZE7FnXEMEg6QmaYjo+kKrnJ4SYx1 DNHarDKw5Ol0vbdHvLKD+Q== 0001009881-97-000011.txt : 19970226 0001009881-97-000011.hdr.sgml : 19970226 ACCESSION NUMBER: 0001009881-97-000011 CONFORMED SUBMISSION TYPE: PRRN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970225 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BOEING CO CENTRAL INDEX KEY: 0000012927 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT [3721] IRS NUMBER: 910425694 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: PRRN14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-00442 FILM NUMBER: 97542887 BUSINESS ADDRESS: STREET 1: P O BOX 3707 MS 1F 31 CITY: SEATTLE STATE: WA ZIP: 98124 BUSINESS PHONE: 2066552121 MAIL ADDRESS: STREET 1: 7755 EAST MARGINAL WAY SOUTH CITY: SEATTLE STATE: WA ZIP: 98124-2207 FORMER COMPANY: FORMER CONFORMED NAME: BOEING AIRPLANE CO DATE OF NAME CHANGE: 19730725 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: UNITED FOOD & COMMERCIAL WORKERS UNION LOCAL 99R CENTRAL INDEX KEY: 0001009881 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: PRRN14A BUSINESS ADDRESS: STREET 1: C/O DAVIS COWELL & BOWE STREET 2: 100 VAN NESS AVENUE 20TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94102 BUSINESS PHONE: 4156261880 MAIL ADDRESS: STREET 1: C/O DAVIS COWELL & BOWE STREET 2: 100 VAN NESS AVENUE 20TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94102 PRRN14A 1 SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant [ ] Filed by a Party other than the Registrant [ X ] Check the appropriate box: [ X ] Preliminary Proxy Statement [ ] Definitive Proxy Statement [ ] Definitive Additional Materials [ ] Soliciting Material Pursuant to (S) 240.14a-11(c) or (S) 240.14a-12 [ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) BOEING - ----------------------------------------------------------------- (Name of Registrant as Specified In Its Charter) - ----------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if other than the Registrant) United Food & Commercial Workers Union Local 99R Payment of Filing Fee (Check the appropriate box): [ X ] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a- 6(i)(4) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount previously paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed UFCW 99R 2401 N. Central Ave., 2nd fl. Phoenix AZ 85004 (602) 572-2149 Sent to shareholders: Feb. __, 1997 SHAREHOLDER SOLICITATION FOR PROPOSALS FOR ANNUAL ELECTION OF ALL DIRECTORS (BOARD DECLASSIFICATION) at BOEING CORPORATION Annual Stockholders Meeting April 28, 1997, 11:00 a.m. 7755 E. Marginal Way, South Seattle WA 98108 Dear Fellow Boeing Shareholder: We write to alert you to an upcoming vote on proposals seeking to have the company declassify its board of directors (that is, have all directors elected annually). These are items 7 and 8 on the proxy card you will receive soon from management. Boeing has a "classified" or "staggered" board, meaning each year shareholders only get to vote on one-third of the seats on the board. Recently several companies have moved to declassify their board, such as Mead Paper and Union Pacific. In 1996, shareholder proposals received more support on average than ever before, averaging 42.4% at 59 companies. Proposals against staggered boards passed at Alumax, General Instrument, Liz Claiborne, Rowan and Stride Rite. They received a majority of shares voted at 4 other companies. Many companies have annual election of all directors, including Hewlett-Packard and U.S. Bancorp. Wayne Huizenga, co- founder of Blockbuster and Waste Management (WMX), has the following views on staggered boards, according to Business Week reporter Gail DeGeorge : He didn't believe in staggered boards, golden parachutes, poison pills, or any of the other anti-takeover remedies adopted by U.S. corporations. "The best thing for shareholders to if someone wants to come in and make a run at the company, let them make a run. Run the price up, that's what my job was * * * All these chairmen that want to put this in place and that in place, they all want to save their jobs. I don't care about my job."FN1 FN1: The Making of a Blockbuster (1996) at p.211. Neither Huizenga nor DeGeorge are participants in this solicitation. They have not been consulted regarding this quotation nor consented thereto. In our view, a director is more likely to be responsive to shareholder interests if he or she must answer annually to the shareholders rather than every third year. Under a classified board, even if a majority of shareholders wanted to replace the whole board, that would likely take three years to fully accomplish. We believe that is unfair to shareholders. Our proposal is as follows: RESOLVED: that shareholders recommend the company have all directors stand for election annually. This is a recommendation and thus would not bind the Board if approved by shareholders. To be approved, it must receive a majority of shares voted. A shareholder unrelated to us, the Chevedden Family Trust, has proposed: RESOLVED: that the Directors and Management take the necessary steps to start annual election of Board members, instead of waiting 3 years for election for each Board member. This includes eliminating any by-laws that may hinder annual elections. The Chevedden proposal has been construed by the company as mandatory and to require a vote of a majority of outstanding stock in order to pass. VOTING PROCEDURE AND VOTING RIGHTS These proposals will appear as Items 7 and 8 in the proxy statement and proxy card you will be receiving soon from management. We intend to circulate our own proxy card in support of the proposal once management releases the information necessary for us to prepare such a card (names of nominees for election, etc.). This card will be accompanied by a revised proxy statement. You may revoke a proxy vote any time before the tally by (1) executing a later proxy card; (2) appearing at the meeting to vote, or (3) delivering the proxyholder or the Company's secretary written notice of revocation prior to the date of the meeting. We will keep the content of all cards we receive confidential from everyone except our staff, and Boeing has a confidential voting policy. Each share of common stock will be entitled to one vote on each matter coming before the meeting. SOLICITATION The participants in this solicitation are United Food & Commercial Workers Local 99R (which owns 25 shares of company common stock) and its staff members (not owners themselves) UFCW 99 will bear the costs of solicitation, expected to be $2,000. We represent employees in the Arizona retail food industry, and are in negotiations over a successor contract for one Albertson's store. We are organizing other Albertson's stores over management opposition in what we feel are improper forms. FN2 Albertson's director John Fery is also a Boeing director. We do not ask for your support in the labor dispute and do not believe it relevant to how you should vote on a corporate governance proposal. Even if these labor problems are resolved, we will present your proxy cards at the shareholders meeting. Last year, we pursued similar proposals at other companies with board connections to Albertson's and will do so again this year. We will present governance proposals at Heritage Media, TIS, Pier 1 and Questar, which have an Albertson's director on their boards. FN2: For example, Albertson's management has used the workplace to campaign against us while refusing us access, even to break rooms. It refuses to use expeditious union recognition procedures (used by it in other locations), instead insisting on Labor Board procedures which are time-consuming and expensive to shareholders. RECORD DATE/SECURITY OWNERSHIP OF DIRECTORS AND EXECUTIVE OFFICERS/EXECUTIVE COMPENSATION/ELECTION OF DIRECTORS Information on these subjects will be contained in management's upcoming proxy statement. SHAREHOLDER PROPOSALS FOR 1998 MEETING Shareholders owning over $1,000 in stock for over one year have the right to have a proposal included in management's proxy statement. The deadline to submit such proposals to the Company is probably __________. The exact date will appear in management's upcoming statement. PLEASE VOTE FOR SHAREHOLDER PROPOSALS FOR ANNUAL ELECTION OF ALL DIRECTORS (BOARD DECLASSIFICATION). Sincerely, William McDonough President UFCW 99 -----END PRIVACY-ENHANCED MESSAGE-----