Yesterday's editorial in the Wall Street Journal by Holman Jenkins, Jr., finally echoed my series of posts castigating Bill Gates, Steve Ballmer and the overall management of Microsoft.
I won't bother to provide all the links. Just search under any of three labels- Microsoft, Steve Ballmer or Bill Gates.
While Jenkins didn't touch the topic of self-breakup, he did note that Ballmer had held himself to the task of creating a third major business, besides operating systems and applications, at which he has notably and miserably failed.
Like me, Jenkins noted,
"At bottom, this is a corporate governance problem."
I've also discussed the retreads and nobodys on the firm's board, the better to kowtow to the CEO.
His solution is one I can second, if the firm won't break itself up. Jenkins suggests they raise the ordinary dividend so high as to require the creation of a successful new business, in order to fund it.
Forced repatriation of shareholder wealth via cash dividends- I like it.
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