I wouldn’t argue with you collegial boards (although if you’ve been to a board mtg where each board member brings an attorney, it tends be a little chillier)…as an NYSE traded company, the comp committee members cannot be affiliated (they certainly aren’t tyson’s own). Their duty, their proper relational standpoint, is to the shareholders. The board exist to locate the natural, appropriate tension between managements and the shareholders’ agents (I know you know that, i don’t mean to patronize). The minute that this *natural, inherent* tension becomes, in any way, morphs into air cover (an excuse) for less than rigorous oversight, the board members cease to be adults capable of distinguishing between friends and, you know, responsible roles. Which, btw, they are handsomely paid, i didn’t look at the filing, but all-in, at least I bet $100k a year.

If your fund invests in Tyson, you should consider a new fund. The real problem here, of which nepotistic avarice is a symptom, is that Tyson is a dual share company: the Tyson family has all of the voting shares. The spineless board (lower b to denote their chicken-like status) member are shamelessly in management’s pocket. Please don’t ever invest behind dual shares . Why hasn’t somebody sued the compensation committee “independents” and, for that matter, how does the comp committee qualify as independent. On a lighter note, thank you for sparing us a chicken joke. Do you know why John Tyson crossed the road? B/c the company pays him millions for the little things…