When Tech firms like PayPal start to get involved in censoring media outlets it is time for the owners to stand up and be counted. #Vanguard #Blackrock #StateStreet and other major fund managers cannot stand idly by and wash their hands of the critical debate about Free Speech. Investing cannot be just a numbers game, a sort of casino if you want to call it that. And management cannot be operating in a vacuum. Selling the shares is not an option either - first of all the mania for indexing makes it impossible for many funds to sell the shares. It is also a sign of cowardice not to stand up for the principles of a free society. The debate should also be about the responsibility major financial institutions have due to their control of the major media companies (in conjunction with a small clique of superrich individuals/families)
(25 Sept 2022)
Big Funds support attack on Free Speech?
JPMorgan shareholders vote against Jamie Dimon’s pay
Just shows that the efforts to contain Executive Pay, esp at the very top, have been fruitless so far. If only 31% support Dimon's pay, how can it actually stay at the same level? Is there no moral sense of obligation - at least with the toothless board of directors? Nobless oblige one used to say.....so there is no nobless anymore.
What is really wrong with the Personnel Management of many -
if not most - firms is the fact that too much reliance is put on the top
man/woman and there is no succession plan or proper preparation. Before boards
should end pointless debates and rush to the lunch/dinner/golf course they
should really review top executive staffing to at least two levels below the
CEO. There should also be a plan for the immediate succession - a firm like JP
Morgan should be able to have groomed at least two or three worthy successors
to Dimon, and reward them well - and cut his ridiculous compensation and
assorted freebies.
(19-May-2022)