More European Insanity The European Parliament is trying to ban hostile takeovers in Europe. This is bad because hostile takeovers protect management at the expense of shareholders (or customers). Fortunately, they will be challenged by EU governments and European Commission.

The entire point of European integration is to foster competition between companies. This should also help open the cozy European management style to the sort of "shareholder revolution" that swept through the US in the 80s and has lead to the mediocre (instead of out and out bad) management that pervades American companies today.