Thursday, July 24, 2008

Just Because You "Own" Stock, Doesn't Mean You Deserve a Say

I'm really not sure what angle I can attack the ongoing of the shareholders meeting that hasn't already been exhausted by ESPN. Yeah, Ted Thompson, Mark Murphy, and Mike McCarthy were there and yes, fans had the chance to voice their opinion. But other than that, no progress was made on the Favre situation and for the most part, nothing "happened".

I really feel bad for the fans that went to the shareholders' meeting thinking that they would be able to change the minds of those running the show. It seems to me there are a large group of shareholders who think just because they quote unquote own the team, they should have a say in the day to day operations of the franchise.


Shares of stock include voting rights, but the redemption price is minimal, no dividends are ever paid, the stock cannot appreciate in value - though private sales often exceed the face value of the stock, and stock ownership brings no
season ticket privileges. No shareholder may own over 200,000 shares, a safeguard to ensure that no individual can assume control of the club.

Basically that means you have a framed piece of paper and a good story to tell your friends, but nothing else.

What do you get, however, is the right to attend the Packers shareholders meeting, and have the chance to at least talk to the Packers big wigs. It's great that the three of them made themselves accessible to fans, who seemed to be largely in support of the current decisions of the club.

So if you went today, I hope you got the chance to meet the guys and voice your opinion, but I also hope you didn't think, one way or another, that you were going to make a difference.


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