Friday, February 27, 2004
NICE WORK IF YOU CAN GET IT
Michael Eisner’s Unbearably Cushy Seat
Executives of the California Public Employees’ Retirement System said in a statement yesterday they have lost “complete confidence” in Walt Disney Co. Chief Executive Office Michael Eisner and the pension plan will not support the re-election of Eisner at Walt Disney’s annual meeting, to be held on Wednesday, March 3, in Philadelphia.
According to a Bloomberg News story published early this morning, the California State Teachers Retirement System, the New York State Retirement Common Fund, and funds in New Jersey, Connecticut, Virginia, and Massachusetts will also oppose Eisner’s reelection.
It’s good to see more aggressive postures on the part of institutional investors, but the decisions may have little practical effect.
The same story reports Eisner “can’t be voted off the board as long as he receives a single vote.”
Eisner surely plans to vote for himself, don’t you think?
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JAMES MARTIN CAPOZZOLA
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James Martin (Jim) Capozzola launched The Rittenhouse Review in April 2002, TRR: The Lighter Side of Rittenhouse, HorowitzWatch, and Smarter Andrew Sullivan in July 2002, and Bulldogs for Kerry-Edwards in October 2004. He is also a contributing member of President Boxer.
He received the 2002 Koufax Award for Best Post> for "Al Gore and the Alpha Girls" (published November 25, 2002). Capozzola's record in the Koufax Awards includes two additional nominations for 2002 (Best Blog and Best Writing), three nominations for 2003 (Best Blog, Best Series, and Best Writing), and two finalist nominations in 2004 (Best Blog and Best Writing).
Capozzola’s experience beyond the blogosphere includes a lengthy career in financial journalism, securities analysis, and investment research, and in freelance writing, editing, ghost-writing, and writing instruction.
He earned his bachelor's degree in political science from the University at Albany and a master's in foreign affairs from the University of Virginia.
Capozzola lives in Philadelphia with his bulldog, Mildred.
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