Mack prevails with Morgan Stanley shareholders

There was some talk that shareholders might voice unease with the management at Morgan Stanley, which has taken its lumps recently along with other top investment banks. In particular, CtW, a coalition of union pension funds, and ISS, called on CEO John Mack to give up his chairman's role. According to the Financial Times however, with most of votes counted, it looks like there never was a serious challenge. Mack likely will retain both positions and, moreover, outside directors also seem to be safe. This gives us an idea of what may happen at other shareholder meetings. Despite some huge losses, it doesn't look like boards will be slapped all that hard by shareholders--for whatever reason, good or ill. 

For more:
here's the Financial Times article

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