MANAGEMENT: Stockholders' Revolt

The U.S. Steel Corp. has a 22-story building in downtown Manhattan that houses its main offices and the conference rooms in which much of its important business is transacted. Yet for 48 years, the important business of the annual stockholders' meeting has been transacted across the Hudson River in Hoboken, N.J., in a small bank building.* Last week at Big Steel's annual meeting, only 350 stockholders (out of a total of 228,000) bothered to come. But not even all of them could find a place to sit; for three sweltering hours 50 of them had to stand in a...

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