Corporations: Proxies for Protesters

Entrenched managements usually try to brand those who start proxy fights as "raiders" or, in the epithet applied by Montgomery Ward executives to Louis Wolfson and associates, "financial pirates." Executives of Minneapolis-based Honeywell Inc. can hardly take that line against one discontented stockholder. He is Charles Pillsbury, 22-year-old scion of the family that founded the flour-milling Pillsbury Co. Far from seeking control of Honeywell, young Pillsbury, a senior in Latin American studies at Yale, is trying to convert the proxy fight into an instrument of protest against the Viet Nam War....

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