If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(The Business Journals)   Shareholders: We're voting this guy out because executive compensation is out of control and he's in charge of it. Board of Directors: FU   (bizjournals.com) divider line 9
    More: Obvious, executive compensation, board of directors, shareholders  
•       •       •

3487 clicks; posted to Business » on 26 Aug 2013 at 4:57 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2013-08-26 05:08:31 PM  
3 votes:
ms-brown.wikispaces.com
2013-08-26 06:38:25 PM  
2 votes:

Treygreen13: This headline is so much more fun if you don't read the article, which states that the shareholders didn't have an issue with the guy and were instead upset about compensation policies that were changed at the meeting.


The guy was head of the compensation committee. Who else do you go after if you're unhappy with executive compensation?
The bottom line is that he was effectively voted out, and the board gave the shareholders the finger and are just looking for a way to cover their asses. It's that kind of consequence-free bullshiat for the wealthy that leads to heads rolling.
2013-08-26 06:34:15 PM  
2 votes:

Treygreen13: This headline is so much more fun if you don't read the article, which states that the shareholders didn't have an issue with the guy and were instead upset about compensation policies that were changed at the meeting.

But post more beheading photos, it makes you seem edgy and cool.


Pretty sure the article said that's what the board of directors themselves said that the shareholders wanted, not that anyone else polled the shareholders.
2013-08-26 05:13:00 PM  
2 votes:

sendtodave: Remember, corporations get free speech because they just enact the will of their shareholders!


And, of course, by "shareholders" they mean "board of directors".

/You can insert that for pretty much anything a BoD does.  As long as they get theirs, the shareholders can hang.
//And, of course, that's before we even start talking about workers and consumers, because we know how highly these guys think of them...
2013-08-26 05:07:51 PM  
2 votes:
Remember, corporations get free speech because they just enact the will of their shareholders!
2013-08-26 07:07:18 PM  
1 votes:

All2morrowsparTs: I read the article and get the board's justification to get them but this show how warped the role of BoDs at large corporations have become. The BoDs are meant to represent and execute the will of the shareholders


This is true. However, the article does not go into Big Lots' Corporate Governance Guidelines, which state (in this link) that anyone failing to garner a majority vote must submit a resignation letter (which was done) for consideration. There is nothing saying that they must accept the resignation, and in fact allows for 100 days to consider what is best for the company. They then asked the proxy firms and shareholders what the issue was, decided that the changes they had made in May addressed those concerns, and then decided to reject the resignation because it was the best thing for the company.
2013-08-26 06:52:22 PM  
1 votes:

Treygreen13: Well, I can see how it looks that way if you don't read the article.


FTFA: The Columbus-based closeout retailer Monday said it would retain Solt on its board and reject his resignation offer despite his failing to garner a majority of votes in the company's May election of its board.

Oh look, what the article actually says! Voted out by shareholders, but keeps his position because the board says so. Is there a consequence I'm missing here?
2013-08-26 06:46:23 PM  
1 votes:

Sergeant Grumbles: Treygreen13: This headline is so much more fun if you don't read the article, which states that the shareholders didn't have an issue with the guy and were instead upset about compensation policies that were changed at the meeting.

The guy was head of the compensation committee. Who else do you go after if you're unhappy with executive compensation?
The bottom line is that he was effectively voted out, and the board gave the shareholders the finger and are just looking for a way to cover their asses. It's that kind of consequence-free bullshiat for the wealthy that leads to heads rolling.


Well, I can see how it looks that way if you don't read the article.
2013-08-26 05:49:55 PM  
1 votes:
I go there sometimes. The store in north Seattle is dirty and trashy looking inside with shelves in disarray. The one in Everett is always nice and clean and organized. Once a year they have 20% off, so that is the best time to go there.
 
Displayed 9 of 9 comments

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report