Friday, July 01, 2005
Greedy Granny faces down Rupert
75 year old American shareholder activist (and suspected terrorist) Evelyn Y. Davis took on the media’s Mr. Big at American media giant, News Corporation's shareholder’s meeting in Washington.
Mr. Murdoch, an American, was attending a short meeting to announce a special distribution of a whole lotta loot to his top executives, using the well documented shareholder wealth redistribution scheme known as stock options.
Granny Davis said to Mr. Murdoch
So once more, the powerful incentive device that is stock options, that rightly confuses the hell out of inexperiened mum and dad investors, and leaves the control in the hand of those who know what their doing is left pristine and free to do further good.
This is despite legendary investor, and traitor Warren Buffet who once roundly condemned stock options thus:
Stock options, my friends are important because they INCENTIVISE company executives. If you don’t know what that word means, and you hear it being uttered by powerful people, then you can be sure that’s a good sign. It’s a sign that they know what they are talking about, and it’s a sign for you to call your stockbroker and go in LONG and go in hard.
Note: 3000 character limit on comments Mr. Murdoch, an American, was attending a short meeting to announce a special distribution of a whole lotta loot to his top executives, using the well documented shareholder wealth redistribution scheme known as stock options.
Granny Davis said to Mr. Murdoch
On the long-term incentive plan, I'm opposed to it because I don't believe in any stock optionsBut Mr. Murdoch’s family interests, with over 30 per cent control, marshalled their enormous resources and crushed the lone dissenting voice under an avalanch of tough love.
So once more, the powerful incentive device that is stock options, that rightly confuses the hell out of inexperiened mum and dad investors, and leaves the control in the hand of those who know what their doing is left pristine and free to do further good.
This is despite legendary investor, and traitor Warren Buffet who once roundly condemned stock options thus:
Options are a huge cost for many corporations and a huge benefit to executives. No wonder, then, that they have fought ferociously to avoid making a charge against their earnings. Without blushing, almost all C.E.O.'s have told their shareholders that options are cost-free.
Stock options, my friends are important because they INCENTIVISE company executives. If you don’t know what that word means, and you hear it being uttered by powerful people, then you can be sure that’s a good sign. It’s a sign that they know what they are talking about, and it’s a sign for you to call your stockbroker and go in LONG and go in hard.
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