Biglari Capital Highlights Support of Retail Shareholders Against the CEO

When people invest in an index fund, they unwittingly relinquish their voting power to people in the governance department, whose personal or political agendas often run counter to the economic interests of their clients. Even well-intentioned people in such departments may just be following an arbitrary checklist. Too often they lack the ability to reject a failing board. The basic question "Do we have the right CEO?" should have been an easy one to answer at Cracker Barrel. Index funds should be required ...