That was then, this is now

Several years into the era of hostile corporate takeover attempts, we attended a board meeting of US Steel, to make a presentation on that subject. It was in the GM Building. As compensation for the directors’ attendance, there were small stacks of $100 bills at each chair (though that may be another company, we can’t really recall). The meeting was a staid affair, at least until the chairman of our employer fell asleep during the meeting, which our CEO host thought was pretty darn funny. That was excitement in those days.

Today, it’s all a little livelier. On CNBC there was a famous investor, or stock-shorter, or something, calling out a company he described as the motherfracker. We don’t know the company or the quality of its management and accounting practices, but something about the presentation seemed over the top, particularly in the context of engineering and operating advances lowering production costs dramatically and fast. And that wasn’t the only investotainment featured on the program. No, not by a long shot. It’s a different world.

One Response to “That was then, this is now”

  1. Neil Says:

    Heh. Love the detail of stacks of cash for the directors. That’s real stripey-pants Monopoly-man stuff, and it’s interesting. No automatic withholding for them!

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