Dumb

Harley-Davidson is involved in a dumb tactic. It is about to rehash bad results at its annual meeting so it has barred the media from attending.  This is a change from its practice in previous years when it threw its function open to all. Predictably, governance commentators were not impressed. As one said, “They can run but they can’t hide.” Now the local media, especially, will make an effort to report what was said and questions shareholders asked. The company would have been far better off if it had just opened its doors. Chances are that its meeting would have been reported in a few paragraphs at most. One wonders if some companies ever learn transparency or whether it is a lesson that has to be repeated year after year.