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William Pesek

Sony Shareholders Have Too Much Patience

Like hedge-fund manager Daniel Loeb, Japanese shareholders should be fed up with poor management of Sony. 
One smartphone in a crowded market.
One smartphone in a crowded market.

Daniel Loeb dumping his stake in Sony no doubt thrilled the company's executives. Now they can return to driving the one-time world leader into the ground without interference from that pesky foreign investor.

Japanese stockholders, for their part, have watched Sony tumble painfully from technology leader to laughingstock to distressed asset, right before their eyes, yet they are standing by Kazuo Hirai, the latest Sony boss to promise change and deliver only losses.