It's entrepreneurial returns for managerial conduct.

They're very entrepreneurial and now they have to go from entrepreneurial to managerial and that's a tough transition to make.

Returns on ownership are almost always better over time.

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.