The Wall Street Journal has an interesting article today detailing boards who are reducing their own pay.
In addition to helping their companies save money and preserve liquidity, directors serving at companies at which the stock price has recently suffered may be more interested in surviving the upcoming round of shareholder lawsuits and proxy fights.
For more, click […]
Ever wonder what your competitor is thinking?
Fortunately, Chief Executive lays it out for shareholder rights activists. In the magazine’s November/December issue, true feelings are uncovered, with boards categorized as meddling, uninformed, self-indulgent… perhaps we should let you read this fine excerpt for yourself:
“Boards are not the rubber stamps they once were. They are your new boss. While some boards have […]
John Schnatter, founder and chairman of Papa John’s International, penned a mighty article in Saturday’s edition of The Wall Street Journal, calling out the boards of investment banks and home equity lenders.
“Behind the CEO of every Freddie Mac, Bear Stearns or Lehman Brothers who led their company down a path toward financial ruin, there was […]
Shareholder activists have won the revolution… so says today’s The Wall Street Journal.
But let’s not all fly off to Sardinia for that Kozlowski-like party yet.
A superficial article on the front cover of Section C includes some statistics about more board seats won, more resolutions adopted, etc. But nowhere does the author stop to ask, “If, since 2006, 218 companies have […]
Our friend Broc Romanek at CorporateCounsel.net writes an excellent post, breaking down each presidential candidate’s feelings on executive compensation.
Most importantly, Broc let’s us know how divided he personally is on the issue, detailing the following pros and cons:
CON: Compensation is a board task. Leave it to them.
CON: Say on Pay gives RiskMetrics (formerly ISS) even more clout.
CON: […]
The Wall Street Journal is running an entire section on CEO compensation in today’s print edition.
The online version of the keynote article, “Boards Flex Their Pay Muscles”, can be found here.
That article’s subtitle offers an astute summary analysis:
“Directors are increasingly exercising more clout in setting CEO compensation. And in some cases, the boss is actually […]
The Wall Street Journal is reporting that Yahoo’s board will meet on Friday to discuss both the Microsoft offer and the potential News Corp. deal.
Be prepared for an “unnamed source” to leak key details of this meeting, but realize that this unnamed source will be reading from a script written by Yahoo’s p.r. firm and approved […]
On Monday, just one day before Morgan Stanley’s annual shareholder meeting, The Wall Street Journal printed a revealing article titled “Boards Give Up Taming Act“.
The article details how boards are less reluctant to fight dissident shareholders, often inviting these shareholders onto the board at an increasing rate.
The key insight offered is that the dissident shareholders have been promoting more […]
One less proxy fight will be decided by shareholders in the 2008 proxy season.
Reuters is reporting that Motorola and legendary corporate raider Carl Icahn have reached an agreement to give two board seats to Icahn’s nominees.
Keith Meister, Icahn’s investment director, will be seated immediately on Motorola’s board, while investment banker William Hambrecht will be officially supported by Motorola in the upcoming shareholder […]
Shareholders are barking up the tree again in advance of next week’s annual shareholder meeting at Morgan Stanley.
The Wall Street Journal writes a great piece detailing the efforts of CtW Investment Group, the investment arm of labor federation Change to Win. CtW is urging a “vote no” against three directors: Chairman/CEO John Mack, Robert Kidder, and […]
