Classic stuff. CommonWealth REIT (CWH) reappoints Joseph Morea to the board after he's forced to...


Classic stuff. CommonWealth REIT (CWH) reappoints Joseph Morea to the board after he's forced to resign following his not getting enough votes to stay on at the annual meeting. "Tragicomedy in REIT land," tweets an observer.

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Comments (5)
  • Chris DeMuth Jr.
    , contributor
    Comments (10596) | Send Message
     
    If they can get away with this, then they can get away with anything. This is total war of CWH's owners versus management.
    15 May 2013, 10:34 AM Reply Like
  • Special Situations and Arbs
    , contributor
    Comments (1396) | Send Message
     
    wow. do we know the timeline for the arbitration?
    15 May 2013, 10:56 AM Reply Like
  • toomuchgas
    , contributor
    Comments (996) | Send Message
     
    Don't see why Corvex and Related don't just put up their own slate of directors for the annual meeting.
    15 May 2013, 01:01 PM Reply Like
  • Rubicon Associates
    , contributor
    Comments (2118) | Send Message
     
    “In these circumstances, and because the board’s determination that Mr. Morea’s continued service and leadership would be in the trust’s best interest, the board requested that Mr. Morea accept appointment to the vacancy created by his resignation,” CommonWealth said.

     

    Hahahahaha - a model of corporate governance. I have been warning folks forever about these guys.
    15 May 2013, 02:48 PM Reply Like
  • toomuchgas
    , contributor
    Comments (996) | Send Message
     
    The writing is on the wall. They can stonewall for a while but their time is numbered.
    15 May 2013, 10:40 PM Reply Like
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