Blockbuster Video Activist Presentation Deck
Fernandes Repeatedly Exhibited Questionable Judgment
Fernandes on Board when Meyer sent 2005 letter (Exhibit 1) urging
Blockbuster to develop a kiosk strategy to save the Company $140 million
per year
Recommendation was ignored to the detriment of Blockbuster
shareholders in the ensuing years
Fernandes was on the Blockbuster Board that gave 'full support' of offer to
buy failed electronics chain Circuit City in 2008 at a time when
Blockbuster should have been focusing on its core operations
An expensive and distracting decision at a critical time when Netflix
and Redbox were gaining significant market share in the DVD rental
segment
Related Party Transaction: Fernandes holds interest in 2 real estate
partnerships that lease buildings to Blockbuster
Despite the closing of thousands of BBI locations over the past several
years, the stores owned by Fernandes' partnerships have remained
open
Material or not, this exhibits poor judgmentView entire presentation