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Higher-stakes proxy fights launched to oust management are far more difficult and costly. But they're shedding their mosquito-vs.-elephant reputation as they garner broader support, both from shareholders tired of executive compensation packages with few links to corporate performance and others who believe that new management would boost company stock.

That's great, as long as the stockholders have a reasonable way of determining "corporate performance." As TMFTeeTime put it in his column on the proxy statement a few days ago ( ):

we, as part owners of these companies, want to make sure management is being properly motivated to build long-term, sustainable shareholder value. The wrong incentives and management could set sail for the best fishing spots without regard for the hurricane brewing behind them. Accusing these industry titans of thinking they will head for the prime spot, catch a ton of fish, and jump ship before the storm hits may sound dramatic, but it's not.


Oh, yeah. Since this is the "Good News" board I'd better include some: I'm on vacation next week. Yay!
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