Monday, April 24, 2006

NYT on Pfizer manipulation of shareholders

In this interesting entry in the informative collaborative blog, Health Care Renewal, Dr. Roy Poses provides a nice summary summary of the New York Time's excellent reports on the ways that Pfizer has manipulated the firms that are supposed to represent share holder interests, so that Pfizer CEO Hank McKinnell can get a steep increase in pay and an $83 million pension, despite the fact that the share price has fallen by 46 percent during his tenure as CEO. The stories referred to, both by Gretchen Morgenson, are:

Pfizer and the Proxy Adviser,Published: April 21, 2006
http://www.nytimes.com/2006/04/21/business/21proxy.html

and Investors vs. Pfizer: Guess Who Has the Guns?, April 23, 2006

http://www.nytimes.com/2006/04/23/business/yourmoney/23pfizer.html


Having previously worked for a firm that advises Pension Funds, I found these reports very interesting and troubling. Here is Poses's summary:

http://hcrenewal.blogspot.com/2006/04/imbalance-of-power-between-company.html
Health Care Renewal
"An Imbalance of Power Between Company Owners and Managers": The Case of Pfizer Inc.
Roy M. Poses MD, Monday, April 24, 2006

0 Comments:

Post a Comment

<< Home