Speak Of Morgan Stanley...............
in the last post. The second largest public pension fund in the U.S., and major Morgan shareholder, has just withheld support for it's CEO.
"CtW Investment Group, which advises union pension funds that hold about 5.7 million Morgan Stanley shares, is calling for shareholders to withhold votes for Mack and two board members, Davies and Kidder, saying they should have been responsible for better risk management at the firm. CtW also wants the firm to name an independent chairman instead of allowing Mack to keep his two roles as chairman and chief executive officer."
Ya think? I expect more of this because before we make it through this mess as I would not be surprised to see Morgan Stanley stock trade into the teens or even single digits.
"CtW Investment Group, which advises union pension funds that hold about 5.7 million Morgan Stanley shares, is calling for shareholders to withhold votes for Mack and two board members, Davies and Kidder, saying they should have been responsible for better risk management at the firm. CtW also wants the firm to name an independent chairman instead of allowing Mack to keep his two roles as chairman and chief executive officer."
Ya think? I expect more of this because before we make it through this mess as I would not be surprised to see Morgan Stanley stock trade into the teens or even single digits.
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