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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (67994)	9/21/1999 5:35:00 PM
From: AurumRabosa	Read Replies (1) \| Respond to of 132070

I read an excellent book that got me started thinking a lot about corporate governance and what shareholders can do to improve it called 21st Century Corporate Board by Ralph D. Ward who is the editor of the Corporate Board journal. bn.bfast.com I've also read articles about Robert Monks and plan to read his books and his biography: bn.bfast.com bn.bfast.com bn.bfast.com bn.bfast.com The CEO is usually the Chairman of the Board and they love to stuff the board with their employees who will brown nose them and vote to raise their own compensation and do stupid things that help them more than shareholders. For example, boards that have staggered terms for directors are designed so that as the CEO gets their sycophants on the board it's harder to remove. Shareholders should demand that the entire board stand for election every year. CEOs have also been giving directors a very lucrative perq in the way of a pension plan. This has gotten a lot of attention and a number of companies have had to revoke the director's pension plan or risk being ousted. I recall reading that the SEC was insisting that funds had an obligation to vote their shares in the best interests of shareholders and not just to rubber stamp management's proposals. Shareholders need to take their vote seriously.