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SEC Lets Companies Disclose Via Websites, Blogs
edadams passes along a note in the ABA Journal that reads "Corporations may now sometimes fulfill their public disclosure requirements under Regulation FD by posting information on their websites and blogs, rather than having news releases distributed by third-party companies, according to new guidance issued by the US Securities and Exchange Commission. The move is expected to cut compliance costs." Here is the SEC's policy announcement.
which is all well and good, except that you're flat out wrong. I won't even bother to cite myself here, cause you're SO wrong that I think even citing myself wouldn't convince you otherwise. In massive companies where the share capital is in the billions, even 5% - 10% of the issued share cap is enough to start throwing your weight around.
In the UK forexample, get up to 30% and you're required to make a bid for the remainder of the company. And umm, what do you think happens when you own 100% of the shares? oh right... you own the company. The board and the CEO are EMPLOYED by the company (which is OWNED by the shareholders) to run the company.
The same is true on a much smaller scale. If you own a resturant, you'll probably hire a resturant manager and a head chef... If the foods crap you fire the chef, if the resturaunt is going down the crapper, you fire the management.
At the end of the day, owning that many shares (and we're talking billions of dollars worth, not whatever pittance you pay in your pension), then you have a lot of money, and in the corporate world, money=power. Just because you and your 5 whole shares which equates to 0.00001% of the company, and no one gives a crap what you think? pah. I've ranted enough. Go and read a grown up newspaper... the kind without the naked girls on the cover... the kind without a sports section.