Shareholders Tighten Their Grip on Dimon et al

JP Morgan management, including the lovable Jamie Dimon, must still be seething after shareholders gave it the finger on Tuesday. A small majority of equity holders, who watched the stock turn in lackluster performance in 2005 while the top dogs raked in the big bucks, voted to tighten the reins in two ways: First, restricted stock vesting will be contingent upon certain performance milestones being met; second, only 25 percent of shareholders will be required to call a special meeting. Not surprisingly, a union was behind both measures.
JPM Investors Back Resolutions It Opposes [Reuters]

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