|reply to BiggA |
Re: Who cares?
It is unfortunate. However, in a way, I can understand it. If management embarks on a strategy that investors don't like, they'll either sell their stock, or, if there are enough big ones who are angry enough, they'll yell to the board of directors. In either case, the board is going to come down hard on management and demand that it reverse course. Any exec who is brave or foolish enough to defy orders like that is going to be shown the door.
And you can't even count on the board to have the company's best interests at heart. Look at what Carl Icahn wanted to do to Yahoo. His whole plan was to pack the board with his cronies, and these people would vote to sell out to Microsoft.
I think that, if the proverbial goose that laid golden eggs was a company, the folks who owned it wouldn't care for it and allow it to lay those eggs in its own time. No, they'd do everything they could to make it lay them as fast as possible, knowing full well that the measures they took would eventually kill it.