Let me put a question

Reader comment on: Einhorn's Apple Move

Submitted by Lyle (United States), Feb 10, 2013 13:33

Assuming you could get 50% +1 shares of stock to vote to tank the company over the objections of the management why should they object, after all the common stockholders do own the company not the management. Given the number of mutual funds and the like involved with most large companies, it would take a major effort for them to vote for candidates for director that would tank the company, given for example how hard it is to win a proxy fight. If the institutions did vote for such directors they could of course be sued should the company go down the drain for not properly managing their shareholders assets.

The managment position on this sounds like special pleading that they know better than the shareholders where the company shoul go, but the shareholders do own the company so they in the end should be able to do what 50% + think is best.

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