Hazy Shade of
Winter
Time, time, time
See what's become of me
While I looked around for my possibilities
I was so hard to please
Look around
Leaves are brown
And the sky is a hazy shade of winter
Time matters!
The average investor holds a share
of stock for 5.5 months. The life expectancy in the United States is 77 years.
The company however should be expected to last forever. These different time
frames may be why there are problems in deciding the best strategy for a
company.
A company consists not only of its Investors. It also consists
of its Labor and its Intellectual Property. The time frame of the Board of Directors of a company should not be as short as that of the shareholders. It should be longer
than the life expectancy, which by definition will be longer than the working years, of any single employee. It should be forever. A Board
of Directors which represents only investors, might choose a strategy which is
best in the short term, but is not the best strategy.
Having a requirement that the Board of Directors of
companies include, not only seats for investors, but seats for employees, and at-large
seats that are NOT investors, would seem to be in the government's interest AND in
the company’s interest. Compensation for the members of Board of Directors
should NEVER be in cash, it should only be in shares of the company which can not be sold until that member leaves the Board.