What a bunch of whiners…

May 27, 2005

Pity the poor CEO and corporate directors who some day may actually have to take their shareholders thoughts and wishes into consideration, unlike the faux democracy — complete with pseudo voting — that investors have to put up with now. At least that’s what Business Roundtable seems to be whining about according to this morning’s WSJ (no link, subscription required, p. C4 in the print edition).

According to the WSJ, the group of CEOs sent a letter to the American Bar Association warning that giving investors the ability to really vote for directors and actually vote out those who weren’t doing their job would “lead to shareholder confusion and increased difficulty in recruiting directors”. Isn’t it reassuring to know that this group of CEOs (and their attorneys) are thinking about investors like you and me?

Enjoy the Memorial Day weekend…I’ll be back on Tuesday.

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