The owners of Saks Inc., the department store chain, will express their pleasure - or dismay - with the company's executives and directors today at the annual stockholders' meeting in Birmingham, Ala.
Will the shareholders be heard this year, or will they be ignored as they have been in the past?
Perhaps the most contentious issue at Saks is how the company elects its directors. Many shareholders, for example, have opposed the practice of electing a handful of directors each year - known as staggered elections - because it can entrench the board.
But even though 53 percent of the shares voted at last year's meeting (or 42 percent of total shares outstanding) favored a move to annual elections for all the directors, Saks has kept its staggered board.
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