If the Directors don't do the job that their bosses, the shareholders like, then the shareholders need to take a more active role.
Good to see shareholders taking an interest. They should not be involved in the day to day, so Directors need to get on with it.
Onésimo Alvarez-Moro
See article:
Several large institutional investors have objected to a plan by Delphi to hire Deloitte & Touche as its auditor during the troubled parts maker's Chapter 11 restructuring because of Deloitte's role in earlier accounting irregularities at Delphi.
"Deloitte's competence has been seriously called into question vis-à-vis its work for Delphi," the investors said in a court filing on Friday.
The institutions are lead plaintiffs in a class-action suit filed earlier against Delphi and various directors and senior executives. They include the Teachers' Retirement System of Oklahoma, the Public Employees' Retirement System of Mississippi, an Austrian mutual fund manager and a pension fund in the Netherlands.
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