Let's think about what happened. The common got the OK and the preferred got the NO K. The same people voted on both, so if the big holders voted yes on the common they also voted no on the preferred.

I assume that someone from most of the interested people have someone reading Message Boards on DRE. Perhaps someone with more insight then I will come forth and explain the voting pattern.

None the less DRE did get shut down on the preferred. That alone should send a message to the company that the stockholders are not going to blindly approve anything they want.

As a matter of fact, since the CFO said the company had what it needed in preferred and based on that information the Board of Directors still gave it's OK to this proxy. I begin to see a Board that is not either, informed or interested.

In either instance, perhaps the Board should be turned over to reflect more independence and concern for the stockholder.