News

American Greetings shareholder objects to Weiss family's plans to go private

June 2013

John Bowblis, Assistant Professor of Economics, was quoted in a Cleveland.com article about American Greetings' intention to take the company private. TowerView, a 6.2% shareholder of American Greetings Corp., opposes the plan.

"John Bowblis, assistant professor of economics at Miami University's Farmer School of Business in Oxford, said that as much as TowerView might be looking to sway other investors' votes, "six percent of shares is not enough to move the needle in most of these cases."

He said that because the largest percentage of publicly traded companies are usually held by large institutional investors, mutual funds and pension funds, "their opinion matters more," both to other investors and to the company management itself. "They tend to have more sway than a single large shareholder," he said.

Read the article here: http://www.cleveland.com/business/index.ssf/2013/06/american_greetings_shareholder_1.html