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Quotas were entrenched: management was pandering to what it thought its fans wanted.
To them, pyramids combine the twin dangers of entrenched management and diffuse ownership.In a closely held company, the manager is hard to oust because he owns most of the firm.
Its entrenched management team, led by Mr. Yang, did everything in its power to thwart the bid by Microsoft, which Yahoo has always viewed as the Evil Empire.
In an open letter it said a "tough-minded activist" investor was needed to drive change in the face of "stubborn and entrenched" management.
This Board has become an enabler to entrenched management and, in so doing, is not effectively discharging its duties to the shareholders.
If PeopleSoft does not present it with an opportunity, perhaps Disney will.Oddly, for a company frequently accused of entrenched management, Disney has neither a poison pill nor a staggered board.
Similar(42)
Part of the problem is entrenched managements and boards that seem more interested in receiving their fees than in looking after their shareholders.
Raising the power of institutional shareholders may provide a welcome counterweight to entrenched managements and boards at some companies.
Because of industry-specific tax regulations and entrenched managements, the deals are likely to be friendly.
Then in the 1980s, a corporate merger mania was unleashed and activist investors such as Icahn became formidable foes for entrenched managements.
"Most people say they're wonderful; I say they're evil," says Posen. "The argument I make is you have small- and medium-size companies that don't achieve economies of scale, are very loyal to locality, have entrenched incumbent management and work in collusion with local politicians and banks.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com