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Shareholder Interests

Shareholder Interests

 People easily throw off lines like "doing it for the shareholders." However, as the possible conflicts of interest that Enron Corp. directors had with their stock holdings have shown, shareholders and their interests can be a mixed bunch. Another example is the boardroom fight at Hewlett-Packard Co., where some of the shareholders want "wealth preservation" while others want "wealth creation." Meanwhile, you increasingly have employees with stock ownership, who may have different demands, on top of the usual individual and institutional investors who have varied intentions and time lines. Rather than focusing on this "mixed bunch," maybe managements should focus on the business, which in the end should take care of squabbling shareholders.

Mark Foley
Tokyo

I read with astonishment how the Enron debacle happened, and I could not believe it happened in America. It raised the alarming issue of how top executives at publicly listed companies and the professional bodies they engaged played the accounting game and quickly amassed fortunes for themselves at the expense of the investors. The culprits should be punished and their fortunes seized to deter future occurrences. Otherwise, the investing public will lose confidence in the capital markets. America has always depended on public money to fuel growth and cultivate innovations. It is time to tighten rules and stop rewarding executives with stock options.

Raymond Tiew
Kuala Lumpur



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