Skip to comments.Fortis halts investor meeting on shoe attack(shareholder riot in Belgium)
Posted on 04/28/2009 7:15:22 AM PDT by TigerLikesRooster
Fortis halts investor meeting on shoe attack
Adam Sage in Paris
Shoes, coins and documents were thrown at executives of Fortis, the Belgian-Dutch financial group, today as angry shareholders sought to prevent the sale of its banking business to BNP Paribas, the French group.
As hundreds of investors swarmed around the stage chanting "resign" at directors, the meeting was halted and board members retreated under the protection of 50 security guards.
Discussions resumed 20 minutes later in an atmosphere reminiscent of football stadiums with investors booing and whistling Jozef De Mey, the chairman of Fortis Holding.
Opponents of the sale were cheered and applauded by many of the 3,300 shareholders present at the meeting in Ghent amid fury over a share price worth just five per cent of its value before the crisis.
Mr De Mey was forced to interrupt the meeting a second time as opponents accused him of selling out to France and demanded a change on voting procedures before a decision on whether to approve the 10.4 billion sale to BNP Paribas.
(Excerpt) Read more at business.timesonline.co.uk ...
Nor is there anything like the international rancor that followed World War I and impeded cooperation: In 1931, the French balked at rescuing Austria's biggest bank (Creditanstalt), whose failure triggered a chain reaction of European panics.
It was hogwash at the time and we noted it. Well here's your "international rancor", dummy.
Nice! People protecting their property and property rights. The basis of freedom.
I hope this sort of thing begins to happen in the US.
I’m a small time owner of some GE. I’ve written about the damage Immelt is doing to the company and was blown off.
Pitchforks and torches at the stockholder meetings would do a world of good.
I guess, I need to practice my shoe throwing.
Is it considered good form to put lead in the toe, so they travel further?
In case anybody asks, tell them it's part of your exercise program.
Time a few politicians got the ol' double boot stomp in the gut and then a swift kick in the rear end.