1984:
No! I disagree with your conclusion and the premise it is based upon. If everyone is too timid or driven by short term gain as opposed to long term wealth building, then the environment for open discussion and debate becomes a sham and a mockery. If the purose of any Board is to only be a shill and cheerleaders for repetition of Managements mantra, then the result is only tacit support and adoration of Management. Regardless of how negative some of its policys, decisions and practices may be to the objectives and health of the corporation itself. Surely you do not mean to say that there is never a conflict between the shareholders interests and those of Corporate "insiders". Surely you do not mean to say that from time to time, any corporate management will not blow smoke up the shareholders posteriors.
Perhaps at times I go overboard. But better that than meek, good little shareholders that give tacit approval to any idea which Management wishes to foist on the shareholders. Connacher "insiders" take very good care of themselves. Just look at the provisions of their "stock option" plan. Both regarding subsidy and exemption from dilution as they continue to marginalize shareholder rights through massive dilution. A practice some may regard as victimization of non-insider shareholders!
Brian
