Shareholders make another call for AGMs

The Esk has also tweeted that the Annual Report and Accounts will land on shareholder's doorsteps sometime next week.

Would the minor shareholders have any impact at an AGM, when we have an intransigent Owner and Chairman?

The minority shareholders deserve a voice and the AGM would always have a question and answer session in which shareholders could ask probing questions of the Chairmen and the Board of Directors. Shareholders feel strongly that this is their right, and fought to have the AGMs reinstated in 2013 by calling for an Emergency General Meeting (EGM).

But unfortunately these exchanges never really yielded anything of value, with the controlling persons in the club expert at stonewalling and deflection such that answers sought were never really forthcoming.

And the imbalance of shareholder power has now become so lob-sided that I suspect you are in effect right: the minor shareholders will not have any impact at an AGM when we have an intransigent Owner and Chairman.

With Everton, Bill Kenwright only holds 1.3% of the shares while the other shareholders together hold 4.6% so combined they should have more of a say in how the club is being run.

Btw, what shareholders? Moshiri is the owner, boss and puppet master. He doesn't give a toss about Fred Bloggs and the two shares that he's had since 1963.

They had some fun with this at previous AGMs, whereby those present wanted "one-man, one-vote" (oops… unconscious misogynistic bias there!) rather than "one-share, one vote", which is what Bill and his cronies have always insisted on because it guarantees them complete control.

But votes only happen if the Board want to or have to put something to the full shareholder base. Then, the minority shareholding and Bill's shareholding are both so small as to be an irrelevance in the face of Moshiri's 94.1% stake.

The minority shareholders have no say in how the club is being run. I don't think they have ever had to any effective degree.

History shows change only comes with violence and is usually temporary as today's revolutionaries become tomorrow's shithouse elite.

AGMs in this situation are a good excuse for a piss-up – nothing more.

The rich get richer, the disparity of wealth grows, and the common man becomes a pawn more than ever.

There's no need for the Board / Moshri to call an AGM. Why? He doesn't have to answer to anyone. Not dissimilar to big banks, big Pharma, politicians, etc.

I don't know what the answers are, but I believe I saw the other day that the modern CEO / CFO makes 60 times what the average American does. Back in like 1970 is was 15 times. Society is moving to a has and has not society at lightning speed, if we aren't already there.

AGMs are just another example, as Barry at 9 points out, of the shrinking power base, the disparity of wealth and power, and the truly gross disproportionate two class system developing.

And I'm conservative. Funny thing to me is anyone being honest with themselves and the situation, liberal or conservative, can come to no other conclusion. And something really needs to be done about it.

I'm heartened that folks on both sides of the aisle can acknowledge that the gaps between the haves and the have nots have become so severe that our society is suffering greatly, each and every one of us. To think what we could do to alleviate poverty and get the people, red and blue and purple, who are so disillusioned with the elites in power to be less angry if the fat cats made only 15 times their workers? And they'd still be plenty rich, but I guess 3-house rich isn't as glamorous as yachts- and planes-rich!

Thanks, Jamie, for being a sensible man of the right.

Kenwright might as well have designed the Tory/Republican modus operandi for them. Get rich, regardless of the consequences to everyone else, and ignore any and every plea for accountability and truth.

Such people will (and have) introduced laws and punishments to ensure their prosperity, but such people can also be toppled by organised dissent and attack.

The sooner the better.

Better that than one way blaze PR from the club. Once it contributed to the over all consciousness and narrative the club does have to take it into account in any decisions they take and it takes the edge of the threat of taking decisions without accountability.

I agree with various posters that what is happening is a reflection of English Society, which has an inert class system with the accompanying management style.

This belongs to a long past age and is detrimental to attempts at progressing, society and organisations, for the modern age. Increasingly, executives are running organisation without regard for shareholders. There are now so many actions by shareholders for negligence throughout the world, in England the class system just adds to the problem.

Everton has a lot to answer for, we are all getting far too deep and reflective.

I'm not looking to highjack this thread and turn it into some TW political debate, but I did want to respond to this:

How can this guy be highlighting the vast wealth disparities that are surely just a product of good old fashioned capitalism?

I've often seen Capitalism framed as inherently wicked and evil by many people, and often by a group of (very) liberal friends I have from college - we have a text thread that we chat on almost daily.

My response to anyone who detests Capitalism is elementary, but I think underscores a point if one engages their brain (I don't say this condescendingly) and looks past what I think would be a normal reaction to an example I'm about to give. The example is incredibly non-scholarly and sophomoric, but for me hits the mark.

The best example of Capitalism is seen in the movie, It's a Wonderful Life. George Bailey runs a Building and Loan and looks to make a living through a free market, all the while making decisions that at the end of the day attempt to help others around him and his community. That, for me, is the example of Capitalism done right.

Capitalism and Socialism (or any other distributive wealth model) are both bastardized in society and never executed in perfect fashion, creating problems and issues on monetary and ethical levels.

It simply comes down to what the individual believes is the best model to advance society, with both models mutations in the real world and execution.

But I'd vehemently argue Captialism in and of itself is not an evil economic model, just as I'd argue Socialism isn't in and of itself an evil economic model.

Men (people, women, all folk) distort and frankly fuck up both models. Hence is the way of the world.

The real issue today is how in the world does society regain some modicum of influence back from an ever-increasing micro-minority of power from the "elite".

And the AGM being blocked is a prime example of that in my opinion - how does the common fan reintegrate himself in the running of his / her Club? They surely are, and have a right to be, vested.

Have a good day.

The actual steps are relatively simple, straightforward and effective. The hard part is getting the majority to see what's happening in front of their eyes... and the sizeable group that are in denial.

there was a law but effectively not for over 30 years now.

Gawd knows how many clubs do or don't today. Not many, I'd guess.

Link

Removing accountability to shareholders leaves the club open to (further?) Becoming a personal train set again, ? I hate waking up at 3am and checking Toffeeweb for news, ruins my sleep..oh well..

Yes, it's true that Q and A sections were often stage-managed by the club's board, who could also generally carry any vote (unless there were any splits). However, there have been several occasions when shareholders have really ruffled the board's feathers and in recent years helped to expose some of the failings, scheming and quite frankly patent lies in the presence of local and national press.

That's the main reason why they have been cancelled and consequently also why all Evertonians should want them reinstated immediately.

Indeed, would they not be advised not to attend, for fear for their very lives!!!