For the small investor in Europe, the rule has long been to put up and shut up. He could buy a company's stock, but for him to complain about the company's management was not done. No wonder, therefore, that last week Giorgio Valerio, chairman of Italy's Montecatini Edison, was in a state of shock. At the annual meeting of Italy's largest private company, the long-frustrated small stockholders angrily showered Valerio with a mixed barrage of small coins, epithets and crumpled copies of the company balance sheet. Their urgent message was that it was time to start listening to the...
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