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April 18, 2006
A SHAREHOLDERS' REVOLT at The New York Times:
That seems at least as much of a revolt as six retired generals calling for Rumsfeld's resignation, no? Except that Morgan Stanley is still on active duty. It's a mutiny! ... P.S.: Morgan Stanley noted that "[D]espite significant underperformance, management's total compensation is substantial and has increased considerably over this period."
UPDATE: Here's much more on the subject from corporate-governance expert Professor Bainbridge, who observes in passing: "Sulzberger's management has not been particularly beneficial for the company's other shareholders."
And another reader thinks it's gutsy of Morgan Stanley to go public, since it's at risk for negative coverage from the Times. Surely the NYT wouldn't stoop to something like that.