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"Mercedes is Job No. 1"
German shareholder activist Jõrg Pluta has some strong ideas on the direction DaimlerChrysler should be heading

Imagine the fury of shareholders seeing a strategy gone awry and billions of dollars in value destroyed -- and a supervisory board that does nothing about it. That was the fate of Germany's disempowered minority shareholders. In postwar Germany, companies relied much more on banks than capital markets to finance industry, and an elaborate system of cross-shareholdings bred a tight-knit financial and industrial elite that shared golf games, expensive cigars, and board seats.

"Mercedes is Job No. 1"
German shareholder activist Jõrg Pluta has some strong ideas on the direction DaimlerChrysler should be heading

Imagine the fury of shareholders seeing a strategy gone awry and billions of dollars in value destroyed -- and a supervisory board that does nothing about it. That was the fate of Germany's disempowered minority shareholders. In postwar Germany, companies relied much more on banks than capital markets to finance industry, and an elaborate system of cross-shareholdings bred a tight-knit financial and industrial elite that shared golf games, expensive cigars, and board seats.

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