Glenfed Inc. Places Last in Shareholder Survey

Glenfed Inc., the struggling parent of Glendale Federal Bank, has placed last in a rating that measured corporate responsiveness to stockholders. The rating was prepared by United Shareholders Assn., a shareholders’ rights group based in Washington, which has compiled the list for five years.

The group measured 1,000 companies on three criteria: economic performance, executive pay and “management’s adherence to shareholders’ rights.” Economic performance, of which Glenfed’s has been dismal in recent years, accounts for 50% of the score.

The top-rated company was Dell Computer Corp., a personal-computer maker. Others ranking high were Microsoft Corp., a leading maker of computer software; Novell Inc., a producer of equipment for linking computers, and sneaker maker Reebok International Ltd.