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FBN’s Lou Dobbs on whether shareholders can still have an impact on corporate decisions.
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Major changes being made at the IP Morgan shareholder meeting today that's the upshot -- to shareholders still have power to make changes old you have to be Greenspan like activist investors Dan -- call icon.
To make an actual difference who Lou Dobbs host of Lou Dobbs tonight news is what you say -- cannot.
Big fat bank account before people listen to him.
I think it's certainly help since -- draws their attention rather quickly.
And the fact -- we've seen a lot of shareholder activism over the years are going back to the days of united share holders.
During the -- of green mail and hostile takeovers in the eighties.
The fact of the matter is that we're starting to see them very very small beginnings have.
-- real.
Shareholder a voice in pay for example -- the folks over at Citibank.
-- what's going on at Citigroup and but -- but the fact -- you still -- better be Warren Buffett if you're going to walk around and say you know I know what how this movie's gonna end him because as a shareholder.
And we still are not as transparent as we should be.
We aren't we do not have this much accountability as we should have and company's Jamie Dimon is a brilliant banker yeah there is no excuse in the world.
In my opinion for any regulated industry to have a very chief executive is also the chairman period it makes no sense whatsoever of.
We just let that some by just for Jamie Dimon for anybody learning.
It it's just makes better sense but she articulated it very well -- taught me yet nothing came of it.
Sandwich -- ME he's chairman and CEO and and you you also have for example the Berkshire Hathaway shareholder meeting you have the AFL CIO -- -- just get a minor change could you once a year update us in writing on here.
On the status of success -- the other what's that -- -- little people did not.
Vote enough in that way or perhaps a system still works -- or -- completely have -- ports.
Not truly right now analysts and -- and I and I think of more look at what's happening with Google war what's happening with FaceBook.
I mean you're talking about -- the Washington Post New York Times you're talking about some massive first -- corporation's.
Public corporations.
And you've got second -- shareholders for the most part with no voice whatsoever.
Without that voting should we say that is changing just a bit -- -- all of this you really believe that an interesting and interestingly enough it's it's beginning with pay.
When we see shareholders start to reject.
Pay packages for a for management.
That's an important first -- first -- you first indication.
That shareholders actually can achieve the kind of influence and -- they should have over the company they -- And I didn't.
A corporation is a a virtual citizen in law.
The fact is the -- -- her is a birch.
A -- owner.
Only in their own my -- -- so many cases you name.
All right Lou thank you so much for don't forget you can catch it every weeknight at 7 PM eastern right here on Fox Business tonight he's got a client also -- -- amateur and explosive new book on the Obama industry.
