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Re: Question?

Posted by blue_flower on December 3, 2001 at 14:25:51:

In Reply to: Question? posted by Alexandra Polly on December 2, 2001 at 20:50:47:

the board of directors is the only protection that shareholders have, short of them doing something illegal. so this means if the directors and the managers are able to get away with it, they will rip off the company and the shareholders. happens all the time. that's what capitalism is all about. taking care of number one.

: Ok, I am confused? If the boards of high powered companies are using the surplus profits and the pension fund(?) of its emplyoees and the stock holders how can they do this without getting caught? What form of protection do the stock holders have again the big companies and their boards? Is there an agency or something that oversees the actions by the board, or is that person just the owner and they appoint the people on the board to begin with? I am confused about this because it seems just like in the stock market the general public wants their money to be safe so there is that commission to help protect them as seen in the two previous movies? If stockholders find that the boards of their companies are spending money at their whims the people would take their money and leave, I am just wondering? I saw "Barbarians at the Gate" a while ago so I do not remember a lot but I do remember that the board and the main character (James Garner)
: were using all the surplus money from the tobacco company to finance completely ridiculous activities? Who is it that regulates these types of companies to see that the stock holders get their full shares, or is there no one that serves the interest of the stock holders??? If no one protects the stockholders then why do people still invest and own shares, are they just "hoping" the board is honest and they get their fair share?




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