As long as they were kept under wraps, directors didn't have to justify them to angry shareholders.
But angry shareholders at the annual meeting here of the giant advertising and communications company said the cuts were not deep enough.
Industry analysts have been speculating that if the company's board did not sell, it could lay itself open to legal attacks from angry shareholders.
Additionally, these shells may sometimes come with angry or deceitful shareholders who are anxious to "dump" their stock at the first chance they get.
But they are the not the only media executives to have lost their jobs because of angry shareholders or unfulfilled promises.
As a result, they have less reason to be worried about confronting angry shareholders.
These days, it may be ample insurance to cover lawsuits by angry shareholders.
Last night angry shareholders called on the Deanses to go now for the good of the 117-year-old club.
THIS was probably not the sort of reckoning that angry shareholders had in mind for chief executives.
An angry shareholder raised the question at Grace's annual meeting on May 10.