Saturday, October 27, 2007

Proxy Fights Are Fun! Let's Watch

The receipt of proxy materials in the mail is seldom an exciting event. Usually, a corporation tells you that they want to change some blah blah in their charter to bluh blah. You don't see how it makes any difference to you, so you throw it away. If that's the highpoint of your day, you need to get out more.

But if you're lucky, you might some day own shares in a stock that becomes the subject of a proxy fight, in which competing slates of would-be directors, or advocates and oponents of a particular resolution, are competing for your vote. Then you have a decision to make. A decision that may impact your household bottom line. If you are in such a context, then the receipt of materials might in fact be the highpoint of your day. Although it still might be a better idea to get out more.

Anyway: why shouldn't such fights become an event of aesthetic appreciation and enjoyment? A spectator sport, if you will? There's no reason they can't. So I've created this blog, and I'll try to comment on ongoing proxy disputes in corporate America in the manner of a ringside commentator. More like Howard Cosell than Dennis Miller, I hope.

We'll see.

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