The Star Tribune reports that "amid tight security and a full house, the chairman and chief executive officer of UnitedHealth Group Inc., apologized to shareholders Tuesday, saying he is sorry about the unflattering spotlight placed upon the company over executive compensation in general and his stock options in particular."
Columnist Nick Coleman wrote that Dr. Bill McGuire gave himself a clean bill of health, talking "about the brilliant things that have happened at UnitedHealth since, well, since he got there."
Coleman also wrote about a high school math teacher, Larry Larson, "the only one to break through the love bubble at Doc's meeting. After taking questions from worshipful shareholders, McGuire was about to end the meeting when Larson, 68, came up to the microphone.
Your stock options are 'obscene,' Larson said, his voice quaking as if he stood before the Wise and Wonderful Oz. 'Maybe you were caught up in this greed,' he said, adding that he hoped McGuire would have 'many more sleepless nights.'
Loud applause followed Larson's candid outburst. "
Coleman concluded his column describing the setting for the shareholders meeting:
"In the hall ... there was a rusty iron sculpture that looked like a nonfunctioning gyroscope or a broken navigating device.
Maybe it was a moral compass."
Posted by schwitz at May 3, 2006 07:27 AM | TrackBack