From Dear Chairman by Jeff Gramm. Copyright [c] 2015 by Jefferson Gramm. Published by Harper Business (www.harpercollins.com).
Dear Chairman is about shareholder activism --the moment when a public company investor is no longer content with being just another bum in the stands. For most people, owning stock in a large corporation is a passive pursuit. They will quickly sell out of an investment if they disagree with how the company is being managed. But some investors decide to actively engage the company to try to enhance the value of their shares. This book focuses on the dramatic moment when a shareholder moves from a passive observer to active participant, and picks up a pen to plead his or her case.
I've chosen eight important interventions from history, featuring original shareholder letters. These letters, and the stories behind them, tell the history of shareholder activism through the last century---from Benjamin Graham's battle with Northern Pipeline in the 1920s to Ross...