Unethical at best.

Editor,

This article points up the problem with corporate governance as it is currently conceived: a small number of people can corner decision-making power in a large, publicly owned corporation by obtaining ownership of a majority of shares.

This is why "self-regulation" of industry boils down to autocracy when democratically elected governments fail to exercise their authority as representatives of entire populations and cede policy-making to giant corporations that are controlled by a small, rich, and therefore powerful coterie. And of course that coterie seems almost always to be unethical at best, criminal at worst.

Re: "Irate News Corp. Shareholders to Take Murdoch to the Woodshed" (10/21/2011)