On this morning's episode we discover just how many shareholders voted against keeping Rupert's sons on the board last Friday. According to the company, 67 percent of non-Murdoch shareholders voted against James and 64 percent against Lachlan.
You read that correctly. 2/3 of the News Corp shareholders not named Murdoch (let's call them the 99% of News Corp investors) wanted those two voted out. And they still remain. That's the way Wall Street works. When 1% owns more than 40% (which is literally the case in this example), 1% gets whatever it wants, no matter how upset the other 99% gets.
Tell me again why those people protesting at Wall Street are a bunch of kooks?