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Archive for February 14th, 2009

A Great Epic Corporate Battle – Shareholders vs Chicago Sun-Times Board of Directors and CEO

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The world is such an interesting place. 

All kinds of things are happening.  All kinds of passions and the endless tug of desires this way and that.  Some people will call it conflict – and some people are afraid of that word. 

 Lets call it a collision of values.  The great cosmic battle among people’s values, desires, self-preservation, and destruction.

From time to time there are great epic corporate battles – shareholders vs the executives – Athens vs Sparta. 

Thucydides, one of the early greek historians  was 2500 years too early. But he got it right –

The cause of all these evils was the lust for power arising from greed and ambition; and from these passions proceeded the violence of parties once engaged in contention – Thucydides

In early 2009, at the time of this writing, the news is all about the economy and the excesses of corporate executives in the context of failing companies.

If you are a shareholder in public companies and you read the proxy materials you get in the mail you will see the many shareholders proposals to do things like ratify executive compensation, disclose lobbying activity, change stock option awards, to be able to nominate board members, and all the rest.  According to the SEC the highest number of shareholder proposals was related to executive compensation.

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Written by frrl

February 14, 2009 at 6:17 am

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