Ray Irani extracted "rents" of $1.1 billion from Occidental (NYSE:OXY) between 1994 and 2012. He was paid an extraordinary amount for managing a company that mines a commodity product. OXY was an example professional management putting its interests in front of shareholders. Shareholders fought back. Congratulations to the shareholders for taking back a company they own. OXY will be a relatively more attractive stock to own in the energy sector with this event. OXY has a 2.9% dividend yield and the P/E is 16.7X. See the article at: (online.wsj.com/article/SB100014241278873...).
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.