Management: With a Little Stock And a Lot of Cheek

For all too many U.S. companies, the annual stockholders' meeting in recent years has become a raucous cross between a stage show and a shouting match. Profanity and horn honking disrupted Communications Satellite Corp.'s session last month. President Darryl F. Zanuck had to outshout hecklers-one of whom came dressed as Cleopatra-at the 20th Century-Fox Films meeting, and shareowners peppered management of the A. & P. with a talkathon that included a suggestion that it make cottage cheese easier to find in its stores. Usually armed with a little bit of stock and a lot of cheek, professional scolds seldom...