Big shareholders hurt small ones
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Re: Kathy Kristof’s personal finance column “Blame high exec pay on corporate boards,” June 14:
One major culprit in this corporate charade was left out: the institutions, mainly mutual funds, that control more than 65% of shareholder votes.
The institutions want investing “advice” and special access to bonds and other corporate offerings. Corporate managements want support for their proposals. These unholy alliances quietly emasculate attempts by individual shareholders to achieve change.
Sid Turkish
Beverly Hills
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