Okay so the industry superfund would get one vote or woukd it by virtue of 1 million members each holding a fraction get 1 million votes. Poll voting has , as I recall, always been a right that you can ask for. The show of hands was to get things done easier bit I have attended a meeting where a shareholder asked that the resolution be voted on by a poll. I think this mum and dad rubbish is just that - fake. Evidence from a huge number of reports show that smaller or mum and dad shareholders rarely vote. Maybe they think it wont count but they do not vote so no-one really belueves that they are being oppressed. Activist shareholders are just shareholders- companies can also mobilise their holders. Who remembers SOL and the suggestion they shoulf unwind the crossholding with BKW - well they mobilised the shareholders and the activist got defeated. mum and Dad take risks but equally so do the big end of town. Its amazing how when there are problems the retail holders want the larger investors to bail out the company - BWX for example read the HC posts wondering if .... would invest more. I also dont buy the argument of mum and dad being the supply of public money - corporate taxes are equally so plus royalties plus duties plus plus plus.
WDS Price at posting:
$33.65 Sentiment: None Disclosure: Held
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