Thursday, February 21, 2008

Under the Influence

Blogging - a lonely existence - may lead to poor mental health. We bloggers tend to ricochet back and forth between two poles of self-esteem: either I’M JUST A STUPID DWEEB AND NO ONE CARES WHAT I THINK, or YES! I’M CONTROLLING THE WORLD!

Lately I’ve been prone to the latter, thanks to two events: (a) the sudden appearance of copious amounts of toilet paper at my local Rite Aid after I posted this Rite Aid rant at Footnoted, and (b) a front-page Wall Street Journal story on an oddball phenomenon I’d already written about, which inspired the self-aggrandizing thought that an esteemed publication had shoplifted my idea.

Continuing in this vein, here are two more examples of Proxyland’s awesome influence:

Example #1:
Not long ago Proxyland said: Man, the reporting lines for Morgan Stanley’s risk management function have been really screwed up. Having risk managers report to traders makes about as much sense as having Lindsay Lohan report to Britney Spears.

Behold: Today, Morgan Stanley announced that it’s hired a new head of risk management and established independent reporting lines for the risk guys.

Example #2:
Not long ago Proxyland said: We’d really love it if compensation committees would pay some attention to the amount of wealth that managers have built up over the years through equity awards.

Behold: In its proxy filed last week, Wrigley (WWY) wrote that its Compensation Committee reviews tally sheets showing each executive’s “accumulated wealth” (assuming various stock prices) and uses this analysis “to assess the overall reasonableness of its past compensation decisions.” Even though they went on to say they weren’t using the tally sheets to determine current compensation (which makes one wonder what exactly was the point of the exercise), they did in some sense do what Proxyland had asked.

Gosh, why am I going on like this? After all, I’m just a stupid dweeb and no one cares what I think.

1 comment:

David J. Phillips said...

Publish more pictures of Ms Lohan & your traffic will multiply ten-fold!