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URL:  https://boards.fool.com/then-again-some-accountability-for-voting-34390306.aspx

Subject:  Re: Boeing 777X bad as 737 Max? Date:  1/19/2020  7:38 PM
Author:  steve203 Number:  575937 of 591995

Then again, some accountability for voting unwisely when it comes to board members would be in order?

Thing is, management has rigged the system so most shareholders do not have any real input. BoD members are nominated by the BoD. Shareholders can only vote "for", or, in some cases "against" the nominees they had no say in nominating. Shareholder "say on pay" votes for the honchos are only "advisory". Any other vote that management doesn't like tends to be dismissed as "advisory". Management of an increasing number of companies are making an increasing number of applications to the SEC to not even publish properly offered shareholder proposals. Unless a shareholder has enough size to nominate his own slate of BoD candidates, he is pretty much ignored by management.

Then add that, to some shareholders, the only thing they worry about is whether current management made them richer, this year. Unfortunately, Welchian management will make shareholders richer, until all the tricks have been exhausted and the house of cards collapses.

Steve
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