Friday, January 05, 2007

Gadflies Get Respect, and Not Just at Home Depot

For decades, activist shareholders were an entertaining, but largely ignored, Wall Street sideshow. Disgruntled investors would attend annual meetings to harangue executives, criticize strategies — and protest that their complaints were being ignored. One agitator appeared in face paint and a red nose after executives called him a clown.
Today, however, it seems that activists have captured the center ring and are directing the main event.

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