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To what extent should boards take direction from shareholders? Not much, in the eyes of...

To what extent should boards take direction from shareholders? Not much, in the eyes of CommonWealth REIT (CWH) and Urban Outfitters (URBN). Each has done a noble job of thumbing its nose at investors; the former by reinstating a director kicked out in a proxy vote, and the latter by finally giving into shareholders' wishes to elect a female director - by nominating the CEO's wife. (NYT, Gretchen Morgenson)
Comments (1)
  • TAS
    , contributor
    Comments (1983) | Send Message
     
    I own Commenwealth's busted convertible preferred, the series D. It pays a good dividend and will never be converted because the management, like another REIT, Monmouth, is so good ole boy centric that they will always pay a dividend, but will never grow the business.

     

    I love busted convertibles.
    25 May 2013, 08:11 PM Reply Like
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