…About a dozen chief executives of investment firms…arrived for a meeting that they were told they would absolutely have to keep secret.
The agenda…was to discuss the sorry state of publicly traded companies: too little trust and connection between shareholders and management, too many rules imposed by so-called governance experts and too many idiosyncratic accounting guidelines. As a result, much of the smart money in the United States is going — and staying — private, creating more companies that have less public accountability and transparency.
