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Old 20th November 2004, 10:49 AM   #1
Hugh Aaron

Join Date: Nov 2004
Location: Maine
Posts: 13
Default The Public Corporation, Who is Responsible When Businesses Go Awry?

I am a stockholder in many public corporations but I wish I weren't because I know there's a good chance that management and directors are in cahoots to retain their positions and deny the stockholders what is in their best interest. For example, when a board recommends voting against a declassified board, for a golden parachute agreement, or against disclosure of political contributions, etc. I realize it is not on my side as a stockholder. The board's cohorts, the executives, preserving their power, place their own personal welfare ahead of the company's. The directors to whom the executives are supposed to be directly responsible, if they are not in cahoots, are not savvy enough to know when they are being hoodwinked.

This is the first paragraph of a longer essay on the issue. The rest of the essay may be found at www.businesswisdom.blogspot.com. Love to have your reaction.

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