More cold water on Ron Burkle's proxy fight

I suppose the L.A. billionaire still has a chance at winning three seats on the Barnes & Noble board, but it's not looking good. The respected proxy-advisory firm Glass Lewis has recommended that the company's shareholders vote for management's slate of board candidates - not Burkle's. Two other advisory firms have yet to announce their recommendations. When all three are in agreement, it almost never goes the other way. From Dow Jones:

While Burkle, owner of about 18.8% of Barnes & Noble shares, "has identified certain areas of concern," Glass Lewis said there is little reason to believe the election of Burkle or his two other nominees will "result in a superior outcome for B&N or its shareholders."