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corporation and control
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Posted on Thu, Jun 02, 2005 10:01

WWW..

Good news here in UK. Institutional shareholders are giving directors a hard time at the latest AGMs querying mainly the fat cats for overpaying themselves for doing the ordinary , like retiring and handing over to the successor , some award themselves phenomenal sums e.g Dame Majorie Scardino 's ?831.000 bonus as profits fell 6%., Lord Hollick's ?250,000 for handing over to new Chief...good to know that finally they are all sitting up and asking pointed questions.
One seasoned individual shareholder queried why public companies gang up to have their AGM the same time and day to dilute the participation of dissenting and inqusitive shareholders who would want to attend all meetings to ask important questions of the P&L...and now they are forced to look at that schedule of meetings..little pockets of success means good news for all..

  


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Posted on Thu, Jun 02, 2005 22:26


wwwww123 write:
What is a AGM? Like our shareholder meetings?

wwwww

Enron is a good example, not the only one, of changes that must be made to better protect shareholders and pension funds. You can not believe the pensions funds, like the Texas and Arkansas teachers pension funds that were killed by Enron. A teacher friend of mine is going to have to work five years longer because of Enron. Hanging is too good for those folks.



Ahhhh, blame it all on the Enron's of the world. What about the governance at the pension funds? Should they not be brought to task for not looking at an Enron and saying to themselves - Gee, it looks to good to be true, so . . . But they invest anyway! The pension fund managers are so bloody happy that it all fell on Enron and AA. No one even glanced at the fund managers. Oh yes, I forgot, they are all from the lemming gene pool.

Remember, if it looks too good to be true, go buy a lotto ticket.

(See my post on the other corp governance thread)



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Posted on Thu, Jun 02, 2005 15:48


wwwww123 write:
What is a AGM? Like our shareholder meetings?

______________________

Annual General meeting like your shareholders meeting., where the board has to face all the shareholders and answer all their nosey queries. My cousin who is with a major public international bank just told me that the recent AGM at her bank was a right fiasco that went for 3 hours and the chairman had to answer so many questions asked by very aggressive individual shareholders.. most of these shareholders make it a point to attend and usually they are pretty well fed to psyche them ..In Japan , the public companies now conspire to have all their meetings the same day and time to dilute the powers of these deliberately disruptive individuals whose sole purpose is to go and expose all the scandals of the private lives of the board...these guys are paid by the yakuzas (underground gangs) to deliberately go disturb the peace ..that way they may be bribed to stop it by the board..



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Posted on Thu, Jun 02, 2005 11:29

What is a AGM? Like our shareholder meetings?

wwwww

Enron is a good example, not the only one, of changes that must be made to better protect shareholders and pension funds. You can not believe the pensions funds, like the Texas and Arkansas teachers pension funds that were killed by Enron. A teacher friend of mine is going to have to work five years longer because of Enron. Hanging is too good for those folks.



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Posted on Thu, Jun 02, 2005 11:10

It's not necessarily all good news though...

The big disadvantage of having company directors having to actually JUSTIFY their earnings is that sometimes they fiddle the figures to make the share price (and themselves) look good.

Enron springs to mind...



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