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"Many of these institutions, which now own two-thirds of the shares of corporate America, are fundamentally failing in their fiduciary duty," says Mr Bogle, who founded Vanguard, a mutual-fund company that pioneered low-cost index funds.What of the newest kids on the shareholder block, the hedge funds?
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If the creditors-turned-shareholders block his election next week, though, the new company will face more difficulties.
Institutional Shareholder Services has recommended that shareholders block the buyout, suggesting there are "serious issues in the sales process that gave TPG a significant advantage".
[C3.] Cnooc Shareholders Block Foreign Investing Plan Minority investors at Cnooc, a Chinese oil company that is publicly listed in Hong Kong, blocked a proposal over the weekend that would have allowed its government-owned parent to invest in overseas oil and gas reserves.
Independent shareholders blocked the deal on grounds that the Dolans' offer was self-serving and too low.
Shareholders blocked the Dolan family's $10.6 billion bid for Cablevision Systems yesterday, the largest rejection of a buyout ever.
In November, Xstrata shareholders blocked efforts to hand out bonuses worth a combined $220 million that were aimed at retaining about 70 of the mining company's top executives.
It was motivated in part by a clause slipped into the original agreement requiring JP Morgan to guarantee Bear's trades even if shareholders blocked the takeover - reportedly a "mistake" which was "inadvertently included".
Yet earlier this year, when Mr. Colaninno sought to rescue the financing of Telecom Italia, which inherited $19 billion of debt from the hostile takeover, activist shareholders blocked his proposal for $10 billion in share conversions and buybacks, arguing that it would mainly benefit Olivetti, which Mr. Colaninno controlled.
"There was no majority shareholder to block a takeover," a point he made when pitching the stock to his colleagues at the time.
That could make it difficult for América Móvil to persuade shareholders to block the sale, the proceeds of which KPN's management has promised to partially return to shareholders in a special dividend.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com