. >> i have a question for you, miss minow. disclosure is important, people have to be able to act based on the information that is disclosed. the ultimate way that shareholders can act, what is your opinion? >> the one thing you know about stock is you want to buy low and sell high, bad decision on the part of management, it can be cost-effective to send a message back to the management rather than sellout. many of the investors including the large institutional investors, are so large and diverse that they are indexed, have nowhere else to go. these are so pervasive, they have nowhere else to go. they do not have the opportunity for the wall street walk. >> given shareholders ultimate ability to sell their shares, shouldn't we be concentrating our efforts on compensation disclosure? >> it is absolutely essential. it doesn't really cover a lot of the kinds of issued revealed by them. >> you talked before about preventing bad compensation practices, little can be done before the structure of the board is fixed, an excellent poi