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Investors made their voices heard when they voted down the pay packages of 51 companies this spring, including that of Citigroup CEO Vikram Pandit.
You would've thought that Citigroup would have made more public comments and would be displaying a greater sense of urgency to be responsive to shareholders.
The advice [companies are] getting is not to have a knee-jerk reaction to these votes.
If you're going to make changes, you want to make sure they're responding to what shareholders want.