"But remember that there's a big difference between the "majority of shareholders" and the "majority of shares". We could have a situation where the majority of shareholders don't like this BOD, but the majority of shares (and thus votes) are held by a few who like this BOD."

Cautious, fair comment and point taken about the difference between shareholders and shares held.

But consider this: if those few shareholders felt the same way as many here, don't you think they'd be on the warpath in a much more public way than on the agora forum? After all, if some of us are under water, so must be some of them, only more so, and with the resources to take complaints much further than anyone here, I would guess. The fact that they haven't - as far as any of us know, of course - is encouraging, isn't it?