article threads concerning yesterday

[Luv2Roam]

I am sure lots of articles wll be written and posted today. Thought it might be easier to just start a thread of those.

http://story.news.yahoo.com/news?tm...s_usatoday/disneystripschairmanshipfromeisner

But the move led to speculation that Eisner, whose contract expires Sept. 30, 2006, will resign or be forced out of the $27 billion-a-year company. It also raised questions about Mitchell, from whom 24% of shareholders withheld votes and who has been criticized for previous consulting work for the company.

Look for more shareholder uprisings like the "out-of-the-ballpark" protest against Eisner, predicted Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware. "I've never seen a response this big in a public company the size of Disney. The board cannot maintain the status quo. This is enormous."

"We're seeing the future of shareholder activism. This will make the election of directors a much more significant issue with real repercussions," McGurn said.

When the influential Calpers called for the New York Stock Exchange (news - web sites) to oust embattled chairman Dick Grasso last year, Grasso was gone within a few days.

 

[Luv2Roam]

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20040304/ts_nm/media_disney_dc_33

New Chairman Unlikely to Quiet Criticism of Disney

Did anyone really expect this to quiet anyone?
It's a start, although minor and flawed, IMHO.

"I can't imagine a CEO who gets 43 percent of shareholder votes against him is still in his role the morning after," said Fulcrum Global Partners analyst Richard Greenfield. "You would think there would have been some discussion about removing him from the company all together."

I am surprised he is still intact. But again that falls onto the Board for not setting up a succession plan.

 

[Luv2Roam]

I am just wondering how fast things are going to move now.
Just from 33 minutes ago:
Entertainment - Reuters Industry

The removal of Michael Eisner as chairman of Walt Disney Co. (NYSE: DIS - news) has failed to quiet critics, leaving Wall Street divided on Thursday as to the direction of Comcast Corp.'s $49 billion unsolicited takeover bid for the iconic media and entertainment empire.

The article follows, but doesn't state much more than other articles.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20040304/media_nm/media_disney_dc_37