Does the topic of corporate governance resonate outside the confines of the world of corporate secretaries, pension fund activists and academics? Evidence that it does can be found today on DailyKos, a democratic blog that bills itself as the most highly trafficked blog on the internet. According to Sitemeter.com the site receives an average of over half a million visits per week, and has had 3.5 million visits in the past week. The blog includes a feature in which members can write essays, known as diaries, and readers can vote on the one they consider the most important or relevant. The number one recommended diary this morning wasn't about Karl Rove or the Iraq war but about the fact that Home Depot directors didn't attend the company's annual meeting. By 11 o'clock more than 225 comments had been added to the diary titled, "Why What Happened at Home Depot's Annual Meeting Matters," and while many discussed the political leanings of executives at Home Depot or the quality of service at the big box hardware store, several offered interesting thoughts on director independence, executive compensation and implications of corporate governance to the larger political picture.
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