“Activist” PSA Shareholders Seeking Board Shakeup

[taul166]

Anyone know how long the current Board has been in place. Probably time for a shake up whether it is driven by this investor alone or maybe a combination of investors and stakeholders. The Boards of many companies turnover from time to time, in part just to bring fresh perspectives to issues. No company should stay stagnant.

[todeen]

Originally Posted by taul166

Anyone know how long the current Board has been in place. Probably time for a shake up whether it is driven by this investor alone or maybe a combination of investors and stakeholders. The Boards of many companies turnover from time to time, in part just to bring fresh perspectives to issues. No company should stay stagnant.

I think the letter said the average length of board members was 13 years. However, it stated that the board members only owned just over 1% of the company, gotten thru company compensation/benefits rather than thru direct investment. The letter inferred that no direct investment meant the board members had no interest in whether the company could make more money, offer better services, etc. "Board members don't seem to care except for continuing the status quo".... which is a direct quote.

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[pclpads]

Solution is simple: PSA and all TPG's need to train / hire more house monkeys to speed up the grading process. As noted, six month wait time now is just not acceptable. But, TPG's have collectors by the short hairs. Where else are you going to go?