http://www.footnoted.com/my-big-fat-deal/gobble-gobble-2/ Morningstar's guide to what's hiding in SEC filings Sat, 04 Feb 2012 00:16:39 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.footnoted.com/my-big-fat-deal/gobble-gobble-2/comment-page-1/#comment-1342 David Harper Thu, 28 Dec 2006 21:03:04 +0000 http://www.footnoted.com/gobble-gobble-2/#comment-1342 ohmygosh, I can't believe this company finds shareholders. Normally, the comp committee must be entirely independent under NYSE, but he owns 60+% so it's a so-called controlled company. They might as well be dual-class shares. And just like dual-class, the ordinary shareholder is second class. Why would anyone subordinate to a company which structurally has no incentive to operate for public shareholders. I note, thankfully, S&P CGQ gives them a governance rank of only 10th %ile. It's fine he owns the place but it is totally unacceptable that he is even on the comp committee. Nice find... ohmygosh, I can’t believe this company finds shareholders. Normally, the comp committee must be entirely independent under NYSE, but he owns 60+% so it’s a so-called controlled company. They might as well be dual-class shares. And just like dual-class, the ordinary shareholder is second class. Why would anyone subordinate to a company which structurally has no incentive to operate for public shareholders. I note, thankfully, S&P CGQ gives them a governance rank of only 10th %ile. It’s fine he owns the place but it is totally unacceptable that he is even on the comp committee. Nice find…

]]>