Poor corporate governance at U.S. companies is like resistant bacteria: attempts at eradication only strengthen the disease. Despite a few steps in the right direction, the current climate isn't much better than when Tyco's Dennis Kozlowski pickpocketed shareholders to buy his overpriced floral-patterned shower curtain.
The losers are the shareholders, the true owners who are strangely powerless to stop the over-reaching by their employee-executives. At the heart of this tragedy are ineffectual boards, who continue to oppose proposals such as...
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