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Let me start this post by way of a short self-introduction. I am a retail investor and have been buying and selling stocks for well over 14 years. A large part of my sweat from my prior day job & my net worth is invested in public companies. I consider my calling to invest in public equities. On the side, I intend to dish out words of ethical wisdom to Board members of ALL public companies, with the intent make them more mindful in doing their duties towards Shareholders. I would like to see Board members of 50 companies take the below pledge.
The lynchpins of our capital market system are the following (and regrettably this is getting forgotten and needs to be reminded):
1. Shareholder Capital that allow entrepreneurs to start or grow business. This is capital produced by the sweat of ordinary people in many instances life savings.
2. Board that is appointed to SERVE interests of Shareholders(Absentee owners) and the implicit Trust that shareholders have in Board that they will do the right thing for all Shareholders
That said, I will make the following plea to Boards of ALL public companies and urge them to take 'The Shareholder Pledge'.
Dear Board Members,
Subject: Please take 'The Shareholder Pledge'
You are stewards of the capital produced by the sweat of ordinary people from all walks of life (Teachers, Software Programmers, Firefighters, Policemen, Nurses, etc). who have invested for their retirement, education of their children, paying a mortgage in future, etc. It is these Shareholder's(Absentee owners) VOICE YOU are SERVING and you have an ETHICAL DUTY to protect and maximize value and conduct in EARNESTNESS and FAIRNESS at ALL times towards ALL shareholders.
Please be conscious of these EVILS: Entrenchment, Cronyism, Quid-pro-quo'ism(Eg: I'll be loyal to CEO because he nominated me to the Board), Self-Aggrandizement, Conflict of Interest/Self-Dealing, Lack of Earnestness and Lack of Fairness. Please take the PLEDGE of ETHICS that you will TRASCEND the aforementioned behaviors and truly surrender yourself in the SERVICE of ALL your Shareholders At ALL times by signing the below form.
If you are a Shareholder and you would like to petition a particular Board member in your company to take this pledge, fill this form link
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