Shareholder Activism Postscript
Tom Brown of Bankstocks.com has an outstanding post on Home Depot's Bob Nardelli's behavior and corporate governance which makes for great reading. Tom's simple message should be read by managements and boards of public companies everywhere. Perhaps even their investment bankers could ponder on these suggestions!
1. Shareholders come first, not last.
2. If you're going to take a big comp package, take responsibility for it by being prepared to defend it in public.
3. Courtesy counts.
4. Courage counts too.
As Tom summarizes at the end: " The numbers a business produces counts for a lot. Often, character of the people who run the business counts for more."