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But, in fact, they're not well run, at least by the standards that are relevant to shareholders — return on equity, profitability, growth, and managing cash flow in a shareholder-friendly way.
His ambition had always been to start and direct things, not tear them apart, even if his obligation was to maximize shareholders' return by unloading operations that had become worth more than their stock prices.
"We believe shareholders should send the message loudly and strongly that it is time for Disney to get a more focused strategy that will improve shareholders' return on invested capital".
"We think the partnership will help improve our capacities to provide extensive telecommunication and information application services and maximize shareholders' return, making us bigger and more diversified so we can continue to compete globally," Mr. Xiaobing said in a statement.
Here is a rare management: one that not only aims to increase its shareholders' return on capital but to let them choose what to do with the money it no longer needs.France's Accor group, with a worldwide hotel turnover last year of €5 billion ($6.2 billion), is taking a different line.
The standards for comparison include total returns to shareholders, return on capital and earnings per share, all of which are used to calculate a composite score.
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When the bubble burst, so too did shareholders' returns.
"They are giving shareholders returns only second to Exxon.
This would increase shareholders' returns by reducing the supply of equity.Lastly, a market for mergers and acquisitions is developing.
The third reason is that executives and directors feel no obligation to maximise shareholders' returns by, say, selling unprofitable businesses.
On January 5, 1918, shareholders returned Rutherford to office.
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