Professor Bainbridge...on law, politics, religion, culture & food

Shareholder Activists Undermine National Security

At least that’s what Martin Litpon thinks:

At its core, the board-centric model of governance is premised on the notion that boards merit the vote of confidence of shareholders and the public markets, and notwithstanding the strong current of distrust that runs through many corporate-governance reforms, history has proven this vote of confidence to be well deserved. I believe it is the only way to assure that public corporations will be able to compete with the state corporatism that is transforming the economies of China, Russia and other rapidly industrializing countries, cope with the demands for short-term (and short-sighted) stock gains by activist hedge funds and make the longterm investments in the future of their businesses that are essential for future prosperity of our nation.