We admire her dedicated, difficult work to make the world better for investors. Over many years, she has taken courageous stands that battled convention and angered the established hierarchy.

So, we trust Nell Minow will understand if we disagree with her, right here. In a recent interview, Corporate Secretary magazine asked for her "five biggest concerns for shareholders in 2012." We rather think her concerns represent those of a small set of investors, or perhaps what she wishes would concern investors.