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Disgruntled shareholders have been taking a tougher and more vocal stand against company directors in 2009 over issues ranging from frothy executive pay packages to company stock performance, according to a new study. And experts believe this trend could fuel efforts by Congress and the Securities and Exchange Commission (SEC) to bring in changes to corporate-governance rules...
Plummeting stock prices and anger over lofty compensation packages drove the trend. "When stocks start to go down and you see executives getting very big paychecks, that's when people get angry," says Dean Baker, co-director of the Center for Economic and Policy Research, a Washington think tank...
Indeed, about 60% of the directors facing the biggest opposition from voting shareholders were those who sat on compensation committees, Fenn noted. (Read "Why the Stock Market Looks Bullish for Autumn...
...pictures of the top 10 scared stock traders...
...financial crisis has largely ended. Earnings at a number of large banks are rising again, and some smaller banks have been able to raise money on their own. Since the end of June, at least 15 small or regional banks have together raised more than $1 billion in stock offerings, without the assistance of the government, according to research firm SNL Financial. Some banks have already paid back the money they got from the government with interest. That's raised the question of why the Treasury's signature financial-assistance program is continuing...