Why do so many American public companies resist transparency and granting their shareholders a greater say in the governance of the enterprises they own?
This kind of Soviet-style intransigence is hard to defend and surely doomed. It's also blocking tremendous value creation. Why aren't companies acting more to bring their shareholders--and other stakeholders--inside?
Some good observations in the New York Times.
Given the sorry track record of corporate boards in recent years, the status quo is not an option. Awaiting regulatory or statutory change has its own risks. It could stifle creativity, make board service less attractive and have unintended consequences. Sarbanes-Oxley anyone?
Why shouldn't corporate boards teach some lessons in the value of democratization and value creation to, among others, our closed political system?
Just sayin'......
