I do not view this as a negative opinion from a corporate governance standpoint. It should not make those who ignore their responsibilities happy nor should it discourage those who seek greater levels of oversight of directors,

Any time you separate economic interest from voting interests, it leads to all kinds of problems. It lessens the accountability. I haven't heard of any good reason for dual-class stock. I think the proposal will strike a chord with a lot of people.

When you see something like this, it begs asking what failure in their system led to this. Why didn't anyone pick it up?

[The split between the former friends is a sign] that professional responsibility as a director trumps personal relationships, ... a positive change.

From a shareholder standpoint, it's not a particularly clear pond.

That would go an awful long way to restoring confidence,