While Jill Priluck decries "the dark side of shareholder activism" on Reuters, the NYT's James...

While Jill Priluck decries "the dark side of shareholder activism" on Reuters, the NYT's James Stewart highlights the "sham" shareholder democracy that has seen directors at dozens of publicly traded companies retaining their positions despite losing elections. The firms include Cablevision Systems (NYSE:CVC), Vornado Realty Trust (NYSE:VNO) and medical diagnostics Iris International, where shareholders rejected all nine directors in May 2011. They resigned but then voted to reject their own resignations.