ValueEdge Advisors Vice Chair Nell Minow appeared on NPR today to comment on the battle for the control of Viacom.
NELL MINOW: The drama is about the single reason that we have corporate governance rules in the first place.
FOLKENFLIK: Nell Minow is vice chair of Value Edge Advisers. She counsels large institutional shareholders on the soundness of their investments. She says Viacom is among the worst-governed she sees.
MINOW: You’ve got to have some system for making sure that they make decisions that are good for the long-term. And basically, the entire structure of anything that Sumner Redstone has been involved in has been based on the denial of the actuarial tables and his idea that he’s going to be able to just push on forever.