PFIZER - Striving for mediocrity
I just received my proxy voting form plus supporting literature. Did anyone have a look at the price chart from 2003 to date? An investment of $ 100 in 2003 would have been worth $ 61 in 2008. Pfizer performed worse than their "old peer group", "new peer group" and even the S&P 500.
The only place I could find where Pfizer exceeds its peer groups was in the area of compensation. Since Pfizer has no "investor relations" or shareholder contact address on their website where I could express my disappointment over their performance, the only optiion for unhappy shareholders is to vote AGAINST Item 3, Approval of Pfizer's amendment to their 2004 Stock Plan, and to vote FOR items 4 to 7, which are shareholder proposals to exert a little more control over management action.
Let's hope the future will be more rewarding for shareholders - for management 2008 has been a good year!