.... As for the
AARP, I suspect what you say is true, at least that's been my observation.


That's right, the AARP is really just a well-disguised
version of the Communist Party... ummm wait I mean Al-Queda,
yeah that's the ticket... for blue-hairs!


Dave wrote:
And the board of directors of a public company is at least in theory hired
by the shareholders--the owners of the company. Does the board always
represent shareholders' interests to the letter? I don't think so.

I don't think so either, but remember that the members of
the board are also large stockholders themselves, in the
great majority anyway.

Shareholders of corporations *definitely* abdicate their
responsibility and don't vote on key issues... or on the
board elections.... enough.


.... But in
practice it's extremely difficult for shareholders to oust a board. Why?

IMHO it's because relatively few shareholders even read
their quarterly reports much less the voting booklet. The
few that vote tend to fill in the block marked "board of
directors recommends this." Remember also that a huge
percent of stock is owned by retirement funds, mutual funds,
etc etc, instead of individuals. These stock shares tend to
be voted by proxy granted to the board.



.... But I
suspect that the control of the machinery of communications is in the hands
of the managers, and that will inevitably be a major factor.

Good point.

DSK