DuPont was quite fine to let him storm off as they immediately afterwards added 2 directors of their own choosing. Geesh Nelson, you could have had 1, but now you have nothing, and the board is that much bigger and more loaded with people favorable to the current management, so that you can even could consider that as a -2, meaning that the score for you suddenly swung by -3 in your direction. And you think you know how to run a company?
Esteemed fellow blogger Chemjobber pointed out to me a couple 1 and 2 articles in the Economist that give an alternate perspective of activist investors. They are well written and do provide an alternative perspective, but I'm having none of it because the articles tacitly assume that all this activism is unquestionably good and that these are good individuals that know what they are doing. Huh? So if you are an activist investor you are automatically qualified as competent? No other field on earth makes that claim. There are bad doctors, lawyers, cops, engineers, chemists, CEOs, teachers, professors, janitors, receptionists, salespeople, actors, singers, athletes and so forth, but bad activist investors? No, they are all quite skilled at their jobs.
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I should point out here that it was an esteemed reader of mine who sent me the articles!
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