Crown Attacked at Stockholders' Meeting

ON APRIL 22, CROWN held its annual Stockholders Meeting in suburban Baltimore. The company announced that it lost $11.8 million, or $1.20 per share, in its first quarter that ended March 31. Sales plunged 32 percent to $225 million.

The company was attacked from all sides. The Daily Record, Baltimore's leading business publication, took Crown to task on three consecutive days.

At the meeting itself, civil rights leaders, clergy, and shareholders criticized Crown's Board of Directors, pointing out poor financial performance, allegations of racism and sexism, union busting and environmental destruction.

Locked-out Crown workers Alvin Freeman, John Grant, and Robert Phillips traveled from Houston to attend the meeting. They provided stirring comments on the current situation of the workers and the injustices at Crown Central Petroleum.

A resolution was presented to have an independent company examine the compensation of Crown's top officials. Crown compensation for top executives has steadily increased, while shareholder value has dramatically declined. The resolution received 25% of the share votes not controlled by Crown CEO Henry Rosenberg.

Crown Boycott News, July-August-September 1999