The Law against Owners

http://www.washingtonexaminer.com/politics/Public-unions-make-a-private-sector-power-grab-92054474.html
I disagree with the op-ed. Corporate governance is currently dysfuntional in this country. This is because management has all the power under Delaware law--not the actual shareholder-owners of public corporations, but management. This is why executives receive huge pay packages that bear no relation to their performance--they pack the boards with their buddies. It's a mutual admiration society for millionaires. The owners, including pension funds, should have more power to control the companies THAT THEY OWN! This counts as yet another opportunity that the republicans have flagrantly missed to engage in useful reform that would have preempted democratic efforts. Republicans ought to keep well in mind that no matter how intensively you look backward and think backward--the world will keep moving forward.

Hey, a Good WSJ Editorial!

http://online.wsj.com/article/SB123396742337359087.html If this reform were combined with a rationalization of the asset management business, American business would become much more competitive and investors' return would increase significantly. As things stand, we have a grotesque misalignment of incentives that benefits the management of public corporations and of asset management firms--at the expense of shareholders large and small. This was something that surprised me in law school--and the court cases that ensure management's advantage over shareholders are some of the most convoluted and unconvincing I've ever encountered.   This type of reform would have been more natural for a republican administration, but since we haven't had a real republican in there since when? Eisenhower? Hoover?