An interesting piece by John Bogle, founder of Vanguard, on corporate governance. For those too busy to read the Wall Street Journal, I can summarize it as “shareholders in public companies won’t be happy unless the managers give them a share of the profits.”
[It would be nice if modesty prevented me from pointing out that my economic recovery plan, from November 2008, included some of the same ideas.]
Bogle’s been writing about corporate governance for a long time now. My favorite is _The Battle for the Soul of Capitalism_
http://www.amazon.com/Battle-Soul-Capitalism-John-Bogle/dp/0300119712
I have concerns about Vanguard spending my fees on advertising and marketing. I would prefer that Vanguard not have additional assets under management. They have achieved economy of scale already. It would be advantageous to me if my funds were smaller and more nimble, not larger. “Enough”?