Well, it's been a long time since the Lone Ranger and Tonto have shown up here. I suppose it has something to do with 1) nobody believes them [the credibility gap] and 2) everybody ridicules them [the hilarity gap].
Speaking of credibility and ridicule and, hokay, stupidity, here's a note I posted elsewhere after I heard it on TV:
This morning's CNBC stupid comment:
On HWP:
David Faber has just said that, if Walter Hewlett, board member and representative personally and through trusts of 18% of HWP's stock, disagrees with Carly Fiorina's Compaq merger idea, he is somehow disloyal to the board by voicing it and should resign.
Mark asked David, why, if Walter had his own stock and represented stock, he shouldn't express his view. David (who goes by the nickname the "Brain," although I think it should be "Mr. Smarmy"), said Hewlett should resign the board because he is in disagreement with Management.
He seems to have forgotten the basics of corporate governance (well, okay, he never knew): the shareholders own the company, the shareholders elect the board to represent them (the OWNERS), the board appoints management to serve them, at their pleasure. Management are servants to the owners, nothing more. Just once more, for the Brain!!: THE SHAREHOLDERS OWN THE COMPANY.
Put more simply, there is an owner group and there is a servant group. Faber, the Brain!!, just said that if an owner disagrees with a servant or the servant group, he is being disloyal to the servants and should resign.
And people wonder why no one has any respect for the talking heads at CNBC.
Kb |
