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An excellent article appeared in the January 24, 2013 Globe and Mails Report on Business article by Janet McFarland, Storming the Boardroom: Sound, fury, and little else. This article tells us about the frustration and disappointment with the pace or lack of true governance reform felt by shareholder advocate, Bob Monks. He says, When I hear the word reform I want to vomit, because it means weve lost the battle of terminology. He also says he is results oriented and really doesnt see any material change in corporate governance, despite all the disasters and fiascos we have seen the past dozen or so years. Bob, I couldnt agree more. So, what is wrong with governance today, anyway? I believe it all starts out with a fundamental lack of common understanding around what governance is. We can see how this problem evolved when we look at the evolution of a typical company, and the roles and relationships that form. Lets start with the humble business owner. Lets call him Joe. Joe
