Great post. Citizens DisUnited: Passive Investors, Drone CEOs, and the Corporate Capture of the American Dream by Robert A.G. Monks comes to much of the same conclusion. Companies without owners with a large enough interest to warrant monitoring (10% or more) operate differently... and the differences aren't good for shareowners or society. See my review at http://corpgov.net/2013/04/review-citizens-disunited/