America’s corporate governance system is broken, and it’s killing public companies. Look no further than Cracker Barrel: Decades of brutal mismanagement have seen one incompetent CEO after another walk away with a massive paycheck while customers and actual shareholders take a beating.
Why does this keep happening? Because proxy advisory firms like ISS are corrupt. They blindly rubber-stamp failing boards year after year, protecting the corporate elite while burning shareholder value to the ground.
The root of the rot is index funds. There's no question that indexing one's money is a smart financial move for most people. But just because you passively index your investments doesn't mean your corporate votes should be handed over to the managers of your fund so they can play politics. Right now, passive funds hold massive, unchecked voting blocks while having zero skin in the game themselves.
It is time for a simple rewrite of the rules: We need to index the votes of index fund investors.
Passive index funds should be forced to automatically split their votes to proportionately mirror those of retail and active institutional shareholders — the people actually doing the research, risking their capital, and fighting for performance in the companies they hold shares in. No more rubber-stamping. A change like this will immediately strip corrupt gatekeepers like ISS of their toxic influence.
True accountability happens when lazy, overpaid boards actually answer to the stakeholders they represent, rather than screwing them over.
Actual, logic-driven governance when your money is passive happens when your vote passively follows the voting decisions of the actual market.
We need to stop letting passive capital protect active incompetence. By stripping index funds of their arbitrary voting power and empowering engaged investors, we will finally torch corporate cronyism and usher American capital markets into a golden age of capitalism.
I was friends with the local Chinese restaurant owner one day another Chinese restaurant opened up in our town. I vividly remember him pointing at it and saying "that bastard is selling Chinese food and he's Vietnamese! You can't tell but I can!"
found one dead ant high up in the cabinet i keep the honey bottle in. no other ants to be found. made it up to the goldmine and died without telling nobody. born to be a skeleton in an indiana jones temple
I wish they still grew pot that was low THC and just gave you a great body high and made you laugh at everything instead of pot that gives you Joe Biden level dementia and existential dread. What do they put in that shit dude.
Just saw a guy at the library pull out an old thinkpad, a fancy knife, a pack of japanese cigarettes, an old ipod with wired earbuds, a book and take a photo of his setup, which he then promptly put back in his bag and started doomscrolling on his phone
Climbed the 10,000 steps of enlightenment to the monastery, so as to ask the wise master a question about the functioning of the universe, and he told me “focus on yourself lil bro” and then counted out fifteen racks in front of me
The House is scheduled to vote this week on a National Defense Authorization that would integrate our military tech & supply chains with Israel’s.
Today, the Rules Committee will decide whether my amendment to strip section 219 will get a vote.
RT to support the Massie amdt.!