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View Diary: FALL OF THE HOUSE OF MURDOCH XI: USA Today Poll shows nearly 80% want Newscorp investigated (67 comments)

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  •  Shareholders have no power; (6+ / 0-)

    and the "outside" directors are busy lawyering up to try to protect their own asses.

    •  Wrong, they have lots of power. (3+ / 0-)
      Recommended by:
      JVolvo, elwior, voroki

      They just are not used to excercising it in this modern world.  Shareholders, ultimately, can fire everyone on the Board of Directors and sue the company for malfeasance.  One of the many things that I want coming out of this scandal is a return to shareholders excercising their rights by banding together and demanding changes.

      As an example, Warren Buffet does not run Coke, but he holds enough shares (through his company) that IF he sees something he does not like in the corporate operations, he is listened to - he is an active shareholder.

      GE, Goldman, Citi - - all of these groups could be run much more to the benefit of the shareholders, all those billions in cash sitting in the bank?  Declare a dividend and send out checks, thats what corporations USED to do, it may even increase the price in shares - if people see value in a company that cares about shareholders.

      "How can the United States be the Greatest Nation ever if it is the only modern nation where citizens hold bake sales to pay for life saving medical care?" Single payer is coming but how many people will die before it becomes the only solution?

      by 4CasandChlo on Thu Jul 21, 2011 at 08:14:44 PM PDT

      [ Parent ]

      •  Shareholder's like the company... (3+ / 0-)
        Recommended by:
        davidincleveland, elwior, BYw

        One thing that's troubled me a little is interviews I've heard with a couple 'large' shareholders. What I heard in a nutshell is that's it's probably time for Murdoch to be out and the nepotism to end, BUT they like the company and the holdings. So while we'd get (and cheer) a sacrificial offering, the corporation would largely remain intact...doing mostly what it does today.

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