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 […]
In an apparent move to assuage dissident shareholder Carl Icahn, Motorola announced that it would spin off its troubled mobile cell phone business, effectively splitting Motorola into two publicly traded companies.
Icahn stills believes that Motorola is moving too slow and has vowed that he will continue his proxy fight for four board seats. As Seeking Alpha reports…
“What […]
$240 billion pension fund giant CalPERS is shaking the ground at five companies, adding them to CalPERS’ Focus List of unperforming companies:
Cheesecake Factory
Hilb Rogal & Hobbs
Invacare
La-Z-Boy
Standard Pacific
Corporate governance complaints at these companies include staggered boards, restraints on shareholder voting, and unfriendly bylaws.
To read the startled reactions from these named companies as reported by Bloomberg, click here.
Uber-activist Carl Icahn must not blogging (http://icahnreport.com/) because he is simply too busy wheeling and dealing and suing companies.
Icahn rejected Motorola’s offer of two board seats, demanding that he have four.
And Icahn remains serious about his proxy fight, sending more than signals to Motorola management. He is now suing Motorola for “deep access” into the […]
