Attention, Kmart Stockholders: Victory

Kmart ceo Joseph Antonini couldn't believe his eyes when shareholders nixed his restructuring plan at the annual meeting in June. Antonini insisted that he lost only because many shareholders abstained. By Aug. 17, though, a chastened Antonini delivered exactly what dissidents wanted: a spin-off of three specialty retailers--office supply, books, sporting goods--into independent units.

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