The Independent - Margareta Pagano RSS Feed http://www.independent.co.uk/news/business/comment/margareta-pagano/?service=Rss Margareta Pagano: Is our shareholder democracy all it's cracked up to be? http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-is-our-shareholder-democracy-all-its-cracked-up-to-be-1825261.html http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-is-our-shareholder-democracy-all-its-cracked-up-to-be-1825261.html <p>Corporate Britain has one of the purest forms of shareholder democracy in the world. But strangely, it's not always a fair one. Unlike in the US or Europe, British takeover law means that companies really do have only one defence available in a takeover fight, and that's to fight on price. Company boards are unable to block a deal with poison pills or changing the date of the vote or the structure of the board. They can only stop their shareholders selling out for a quick buck by persuading them that they would be better off staying with the company. The alternative is to recommend an offer.</p> Margareta Pagano Sun, 22 Nov 2009 00:00:01 +0000 Margareta Pagano: It's been a long haul for BA and Iberia, but now they must avoid a crash landing at the altar http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-its-been-a-long-haul-for-ba-and-iberia-but-now-they-must-avoid-a-crash-landing-at-the-altar-1820822.html http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-its-been-a-long-haul-for-ba-and-iberia-but-now-they-must-avoid-a-crash-landing-at-the-altar-1820822.html <p> If the Wright brothers were alive today Wilbur would have to fire Orville to reduce costs. This quip from Herb Kelleher is even more apt now than when the boss of Southwest Airlines said it some 15 years ago as the industry was going through another of its upheavals. </p> Margareta Pagano Sun, 15 Nov 2009 00:00:14 +0000 Margareta Pagano: Even at an Aldi discount, Lloyds is still a gamble http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-even-at-an-aldi-discount-lloyds-is-still-a-gamble-1816794.html http://www.independent.co.uk/news/business/comment/margareta-pagano/margareta-pagano-even-at-an-aldi-discount-lloyds-is-still-a-gamble-1816794.html <p>Michel Pébereau, the head of BNP Paribas, the French banking giant, told me an age ago how he would love to buy Lloyds Bank but couldn't afford to because of the huge premium he would have to pay for what was then one of the most profitable banks in the world. </p> Margareta Pagano Sun, 08 Nov 2009 00:00:01 +0000