Eat to his own

'Shareholder value' is a concept that all listed companies are supposed to revere, but the perception of that value can vary widely between the company and some shareholders. Thus, at a recent United Spirits EGM, a latecomer stopped a shareholder who was leaving after the meeting to ask what had transpired. The reply would have deflated champions of corporate governance. "It was a routine matter. They wanted shareholder approval, so I came. They called for the meeting, I came for eating," he said.