Steak’N Shake Has the Answer for America’s Broken Corporate Governance System.
This summer, Steak’N Shake supported the American team in the World Cup, showing off their patriotism and love for the USA.
Steak’N Shake doubled down on Team America and offered 20-cent shakes if the US beat Australia.
If America beats Australia in Friday’s World Cup match, celebrate at Steak n Shake on Saturday with a Patriot milkshake for only 20 cents!
Limited to one milkshake per customer.
🇺🇸 ⚽️ 🏟 🇺🇸
— Steak ‘n Shake (@SteaknShake) June 18, 2026
What a great company – support your local Steak’N Shake on Saturday – the US won!!
America beat Australia 2-0 in today’s World Cup match!
Celebrate tomorrow at Steak n Shake with 20-cent Patriot shakes.
Winning never tasted so good. Limit one per customer.
— Steak ‘n Shake (@SteaknShake) June 19, 2026
This week, the leaders at Steak’n Shake shared their thoughts on how to deal with the broken corporate governance system.
America’s corporate governance system is broken, and it’s killing public companies. Look no further than Cracker Barrel: Decades of brutal mismanagement have seen one incompetent CEO after another walk away with a massive paycheck while customers and actual shareholders take a beating.
Why does this keep happening? Because proxy advisory firms like ISS are corrupt. They blindly rubber-stamp failing boards year after year, protecting the corporate elite while burning shareholder value to the ground.
The root of the rot is index funds. There’s no question that indexing one’s money is a smart financial move for most people. But just because you passively index your investments doesn’t mean your corporate votes should be handed over to the managers of your fund so they can play politics. Right now, passive funds hold massive, unchecked voting blocks while having zero skin in the game themselves.
It is time for a simple rewrite of the rules: We need to index the votes of index fund investors.
Passive index funds should be forced to automatically split their votes to proportionately mirror those of retail and active institutional shareholders — the people actually doing the research, risking their capital, and fighting for performance in the companies they hold shares in. No more rubber-stamping. A change like this will immediately strip corrupt gatekeepers like ISS of their toxic influence.
True accountability happens when lazy, overpaid boards actually answer to the stakeholders they represent, rather than screwing them over.
Actual, logic-driven governance when your money is passive happens when your vote passively follows the voting decisions of the actual market.
We need to stop letting passive capital protect active incompetence. By stripping index funds of their arbitrary voting power and empowering engaged investors, we will finally torch corporate cronyism and usher American capital markets into a golden age of capitalism.
What a great idea from the leaders of a great company.
Read the full article here