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Murray Schiffman

Murray Schiffman
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  • Wells Fargo beats by $0.02 [View news story]
    My fight is the proxy statement. Most shareholders do not read it. Here is why (my latest missile to the SEC):
    The Titans of business have found a way
    To make your disclosure policy go astray.
    They burden it with so much legalese
    To make finding the substance quite a tease.

    Audit, Governance, Compensating committees, quite a joke
    Just words that are used for creating smoke.
    And creating lush positions for director lackeys
    Receiving unconscionable fees for jobs so hackneyed.

    Give the Proxy Statement a new birth and new seed
    Eliminate the legalese and put in charts much easier to read.
    At the beginning, not the middle or the end
    So shareholders can grasp immediately how executives offend.

    Increases of 5% or more should be highlighted
    In charts or graphs easily sighted.
    The objective is for shareholders to more easily know
    If the Executives are treating the cash as their own cash flow.

    Pretty old (86 years) retired CPA and Comptroller
    Oct 11, 2013. 11:34 AM | Likes Like |Link to Comment
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