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CA leaves its shareholders hungry

Colin Barker ZDNet.co.uk

Published: 26 Aug 2005 13:00 BST

Computer Associates' shareholders have been no strangers to adversity over the years as the company has dealt with controversy over its accounting methods and seen sporadic performance. But at the company annual general meeting this week it was a lack of food, not a lack of profit, which was the issue.

The beleaguered shareholders were apparently upset to find that CA had not brought in any food for the meeting, leaving attendees starving for more than good news. This after CA had shifted the meeting from its usual venue on Long Island to Manhattan — the home of 24 hour catering.

According to Information Week, several shareholders complained that CA had shown "a lack of sensitivity" by moving the meeting and not providing food.

"The first shareholder who mentioned it drew laughter. As more people joined in, and some contrasted it with executive amenities, the tone grew angry," according to the reports.

Technology companies can have enough trouble with AGMs without slipping up with the catering. In July, O2 faced a near-riot at its AGM when angry workers disrupted proceedings and a pensioner was dragged from the room by security guards.

CA announced job cuts of 800 last November and in July said it would cut the workforce by a further 5 percent. This despite reporting that it expects revenues will grow throughout 2005.