At Phoenix Shareholder Meeting, Frustration and Optimism Voiced

For all the company's troubles, Friday's annual shareholder meeting of the Phoenix Cos. was a rather quiet affair.

The meeting was held in Phoenix's headquarters in Hartford, with about 50 attending, a majority of them board members, executives and employees. Three shareholders spoke.

From the start, the new chairman didn't mince words. He said he was aware that shareholders are frustrated, even angry, about the company's stock performance in the past year, as shares sank more than $10, or 86 percent. The stock closed at $1.55 Friday.

At Phoenix Shareholder Meeting, Frustration and Optimism Voiced
Source: Hartford Courant