You are obviously a man of the world Wabbs, and the idea of democracy around shareholdings and decisions consequential is probably not out of context totally.
But, the one aspect in your analogy which I had to chortle at is the inference that the kids could prevail on their oldies for their share of the family home? And yes, it can happen.
I actually see that the point you may have been wanting to be ovelooked in your idea is the fact that the head shed team (I like the thought that they be the kids in this respect) have never owned a controlling portion of the shares in the company. Although I think the former CEO might have made a symbolic acquisition at one point to counter the displeasure of many shareholders that senior reps of the company had no skin in the game.
Anyway somehow, there must have been leverage over enough of the shares needed to sway their way on the issues many shareholders objected to, and tried to overcome. But now we become embroiled in and disadvantaged by (including the major holders) which has brought us to where we are today. In lockdown, or up the proverbial creek in a wire netting canoe without any paddles.
Nice try, but somehow your democracy concept looks of doubtful merit at Empire, because even numpties like me could see we were being sold a pup. Like many others whom have become caught up in this mess, I just wasn't smart enough, early enough, to understand just how fr...ked-up the pup actually was. Be honest - neither were you Ol' M8.
But then, let's not forget all the joy that our esteemed Chairman brought us when he revealed tendencies before and at the AGM, like one might expect to see from an overbearing oligarch. Are you sure you haven't been using a borrowed copy of his hymn book?
EGO Price at posting:
12.0¢ Sentiment: None Disclosure: Held
