My Navistar Stock

Georgeson Inc.
PO BOX 43023
Providence, RI 02940-3023

To whom it may concern:

Another offer to let me purchase stock in Navistar for a ridiculous price. I am insulted.

My late husband, John Durkalski, worked for International in the truck division. He was proud of those big International trucks and for the company where he worked for 40 years. He bought stock, paying as much as $40 a share. When he retired, he sold that stock for $4 a share.

Later I persuaded John to buy 100 shares “for sentimental reasons” at the same $4 per share. After he died, Navistar had a “stock reduction” scheme, and I ended up with only 10 shares.

I feel the company stole 90 shares from me. Now you offer to let me buy 90 shares by sending you a check for $4,500. Really! To buy back stock for which we paid $360.

You say you would save me “the inconvenience and cost of brokerage commissions.” Fortunately, the other stocks I own comprise a large enough portfolio in my Wells-Fargo PMA account that I never have to pay commissions on the rare occasions when I buy or sell stock.

I’ll keep my 10 shares and let Navistar send me the annual reports where I can read about the enormous cash payments and gifts of thousands of shares of stock to company officers and board members. What a lousy deal for long-time stock holders, like me, who never receive a dividend!

That’s the way the American industry works these days. It is all legal, and every corporation is run by a bunch of greedy crooks! Is anyone surprised that the U.S. economy is in a mess?

Yours very truly,

Ilene Durkalski

CC: Navistar, Inc.