It depends who does it whether it’s right or wrong
Lefty activist group GetUp! is upset that Woolies makes money off poker machines, and they’ve employed a pretty interesting tactic to try and stop this. What they’re doing is basically buying up a lot of Woolworths shares. They’ll use their stock interest, along with – of course – a petition, to call an Emergency General Meeting to try and get the company to drastically amend its poker machine policies.
Politics and pokies aside, that’s kinda nifty.
Or is it? Take the floundering Fairfax group, a company essentially in its death throes if something isn’t done fast.
Just to be clear:
GetUp! buying up Woolworths shares to change the direction of the company = good.
Gina Rinehart buying up Fairfax shares to change the direction of the company = bad.
Have I got that right?
A debate ensues…