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Do ANY of the major indices still have a minimum public voting stock fraction?
Investor summaryNeutral
The author questions major indices' rules on public voting stock fractions, criticizing founder-controlled companies.
Bear points
- Indices allow public companies to be permanently controlled by founders through voting share manipulation.
- Lack of independent board of directors due to voting share shenanigans.
Post body
I've always been pretty cynical, but even I am a bit shocked that the indices are allowing "public company" to mean "company the founders will control forever due to voting share shenanigans." Who needs an even slightly independent board of directors?
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