The article cites several examples of questionable corporate governance
including those involving retailer J. C. Penney, bank J. P. Morgan Chase
& Co., and drug company Allergan, and discusses principles the
author believes would lead to better governance. He maintains corporate
boards should focus on long-term results, and to that end should no
longer offer quarterly earnings guidance. He also considers how firms
can improve the quality of board directors and provide shareholders with
an outlet for expressing their views in an orderly manner.