West Lafayette-based life sciences contract research firm Bioanalytical Systems Inc. has five directors on its board. If company
founder Pete Kissinger has his way, four of them will soon be replaced.
The folks who control executive compensation are often executives themselves. Boards must realize that their self-dealing,
self-benefiting ways are grossly out of line with the true value of one’s contribution to a business and society.
An exaggerated share of the nation’s wealth is paid to CEOs of public companies, their minions and directors, through agreements
made inside boardrooms, by highly compensated individuals who commit shareholders’ money and are not subject to effective
oversight.
Texas investor Sardar Biglari rode a wave of shareholder anger to a landslide victory in his quest for Steak n Shake Co. board
seats. Now, the dissident 30-year-old investor who models his approach after Warren Buffett’s is hoping to deliver on his
promise to turn around the Indianapolis-based chain, with or without the chairmanship he covets.
