Being a stockholder is NOT the same as owning the store.
"I feel" vs "This is the law".
There are millions of WalMart shareholders. If only 1% of them decided to tell the Board of Directors what to do/how to do it the confusion would be rampant. But more importantly - the Board of Directors has the legal and fiduciary responsibility to operate the company in a way that creates dividends payable to the shareholders The question can be put to the totality of shareholders if they are willing to risk getting less/no dividends if the Board of Directors chooses to follow any particular course of action but that is only advisory on the Board of Directors.Ms. Stout explained that Trinity’s proposal does not give investors the ability to tell the company board what to do, it simply asks them to identify whether their sales policy is consistent with company values.
That request might seem small, but critics say if the appeals court rules in favor of Trinity, it could set up a precedent that derails the way major corporations operate.
Bernard Sharfman, an adjunct professor at George Mason University School of Business, said that investors do not have the authority or the knowledge to make decisions that govern the corporation.
“That kind of decision needs to be made by the board of directors. What is [in] the best interests of the corporation — that authority, by corporate law, is embedded by the board of directors. That’s why you have a board of directors: to make those decisions,” Mr. Sharfman said.