Not being told what a shitty job management is doing somehow feels off.

Morgan Stanley’s annual investor meeting lasted 20 minutes, and no one asked any questions. The gathering was notable only for its lack of excitement, and for the absence of one particular shareholder who always made the event more lively. James P. Gorman, the firm’s chief executive, paid respects to Harry Korba, an investor that Morgan Stanley executives had come to know for his colorful questions and photographic memory of the firm’s financial statements…

At Bank of America‘s shareholder meeting last week, a woman complained to its chief executive, Brian T. Moynihan, about the lack of handicapped parking at her local bank branch, and the fact that “you got a bonus and the stock price is terrible.” The quiet, brief gathering at Morgan Stanley’s offices in Purchase, N.Y., was in sharp contrast to other bank meetings taking place this month. On Tuesday, Morgan Stanley shareholders easily approved the company’s board of directors, its executive compensation plan and its auditor.

For Morgan Stanley, a Quiet Meeting of Shareholders [Dealbook]

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  1. Posted by Guest | May 14, 2014 at 11:08 PM

    Gorman should be out!

  2. Posted by runcibleman | May 19, 2014 at 6:57 PM

    Larry Fink told John Mack to hire Gorman back in 2006. I think there lies the blame. BlackRock wanted to undermine MS.