Once each year, in theory, the legal owners of a corporation assemble for an accounting of the stewardship of their property. In practice the annual stockholders' meeting is largely a matter of form. Only with the greatest difficulty can stockholders be persuaded to sign enough proxies for a quorum, let alone attend in person. The few stockholders who do attend can do little except talk, since the majority of the shares are generally voted, not by disinterested stockholder representatives, but by a management primarily interested in staying in office. Almost nothing short of...
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