The Economic Outlook: 17,000 Jobs Lost
February 1, 2008 by Peter Morici
Today, the Labor Department reported the economy added only 18,000 payroll jobs in December, after posting an 115,000 gain in November. Economists expected a 70,000 gain in December, and these jobs data are the strongest evidence so far that the economic expansion is grinding to a halt.
February 1, 2008 by Peter Morici
Today, the Labor Department reported the economy added only 18,000 payroll jobs in December, after posting an 115,000 gain in November. Economists expected a 70,000 gain in December, and these jobs data are the strongest evidence so far that the economic expansion is grinding to a halt.
Diller v. Malone: IAC Fends Off Shareholder Advances in Court
February 1, 2008 by Joseph McCafferty
In a filing with the Delaware Chancery Court yesterday, IAC/InterActiveCorp. asked that legal action by shareholder Liberty Media be dismissed, arguing that its attempt to remove chairman and CEO Barry Diller and other board directors could "cripple" the company and threaten its quarterly earnings report.
February 1, 2008 by Joseph McCafferty
In a filing with the Delaware Chancery Court yesterday, IAC/InterActiveCorp. asked that legal action by shareholder Liberty Media be dismissed, arguing that its attempt to remove chairman and CEO Barry Diller and other board directors could "cripple" the company and threaten its quarterly earnings report.
Gore’s Current Media to Go Public
February 1, 2008 by Joseph McCafferty
Current Media, founded by former Vice President Al Gore, filed for initial public offering (IPO) this week with the Securities and Exchange Commission, resulting in the disclosure of Gore’s stake in the company as well as his compensation.
February 1, 2008 by Joseph McCafferty
Current Media, founded by former Vice President Al Gore, filed for initial public offering (IPO) this week with the Securities and Exchange Commission, resulting in the disclosure of Gore’s stake in the company as well as his compensation.
Board Backs Chief of French Bank, Assigns Crisis to Committee
January 31, 2008 by Joseph McCafferty
The board of Société Générale so far has declined to act on an offer to resign by chairman and CEO Daniel Bouton.
January 31, 2008 by Joseph McCafferty
The board of Société Générale so far has declined to act on an offer to resign by chairman and CEO Daniel Bouton.
Top U.K. Execs Earn Higher Base Salary, Lower Total Pay Than U.S. Chiefs, Study Finds
January 31, 2008 by Joseph McCafferty
While the base pay for top CEOs is typically 20 percent higher in Europe than in the United States, bonuses and other incentives are much lower, resulting in significantly better overall pay for top american executives, a new survey by the Hay Group finds.
January 31, 2008 by Joseph McCafferty
While the base pay for top CEOs is typically 20 percent higher in Europe than in the United States, bonuses and other incentives are much lower, resulting in significantly better overall pay for top american executives, a new survey by the Hay Group finds.
Analysis Shows CEOs Opting for More Options-Based Shares
January 31, 2008 by Joseph McCafferty
An Equilar analysis of fourth-quarter filings with the Securities and Exchange Commission found that the total number of shares awarded to Fortune 500 chief executives was approximately 30.7 million, an 18.2 percent increase over the fourth quarter of 2006.
January 31, 2008 by Joseph McCafferty
An Equilar analysis of fourth-quarter filings with the Securities and Exchange Commission found that the total number of shares awarded to Fortune 500 chief executives was approximately 30.7 million, an 18.2 percent increase over the fourth quarter of 2006.
PCAOB Adopts New Auditing Standard
January 31, 2008 by Joseph McCafferty
The Public Company Accounting Oversight Board this week voted to adopt Auditing Standard No. 6 – Evaluating Consistency of Financial Statements – and an accompanying set of amendments to the board’s interim auditing standards.
January 31, 2008 by Joseph McCafferty
The Public Company Accounting Oversight Board this week voted to adopt Auditing Standard No. 6 – Evaluating Consistency of Financial Statements – and an accompanying set of amendments to the board’s interim auditing standards.
Investors Select Over 90 Targets for Adoption of ‘Say on Pay’ Proposals
January 30, 2008 by Joseph McCafferty
More than 90 companies are facing resolutions regarding say on executive pay from shareholders hit by the credit crunch and economic slowdown.
January 30, 2008 by Joseph McCafferty
More than 90 companies are facing resolutions regarding say on executive pay from shareholders hit by the credit crunch and economic slowdown.
SEC Not Pleased with Detailing of Exec Pay; Sends Second Round of Letters
January 30, 2008 by Joseph McCafferty
January 30, 2008 by Joseph McCafferty
Moody’s Pulls IndyMac’s Ratings at Company’s Request
January 29, 2008 by Joseph McCafferty
In a memo posted last week on its corporate blog, The IMB Report, IndyMac Bancorp said that while Moody’s Investors Service has withdrawn its corporate ratings on the company, it was done solely at IndyMac’s request.
January 29, 2008 by Joseph McCafferty
In a memo posted last week on its corporate blog, The IMB Report, IndyMac Bancorp said that while Moody’s Investors Service has withdrawn its corporate ratings on the company, it was done solely at IndyMac’s request.
Wall Street Bonuses Down Only Slightly
January 29, 2008 by Joseph McCafferty
More fodder for those seeking ammunition in the battle against excessive executive pay: Estimates by the New York state comptroller’s office show that Wall Street bonuses totaled $33.2 billion in 2007, down just two percent.
January 29, 2008 by Joseph McCafferty
More fodder for those seeking ammunition in the battle against excessive executive pay: Estimates by the New York state comptroller’s office show that Wall Street bonuses totaled $33.2 billion in 2007, down just two percent.
Icahn Pursues Board Seats at Biogen Idec
January 29, 2008 by Joseph McCafferty
A fight to control one of the leading biotech companies is being waged at Biogen Idec led by Carl Icahn.
January 29, 2008 by Joseph McCafferty
A fight to control one of the leading biotech companies is being waged at Biogen Idec led by Carl Icahn.
Comp Roundup: Mackey, Bronfman, Donald, Mozilo
January 29, 2008 by Joseph McCafferty
A self-imposed pay cut resulted in the CEO of Whole Foods Market receiving compensation valued at $162,160 in fiscal 2007, the company disclosed in a regulatory filing yesterday.
January 29, 2008 by Joseph McCafferty
A self-imposed pay cut resulted in the CEO of Whole Foods Market receiving compensation valued at $162,160 in fiscal 2007, the company disclosed in a regulatory filing yesterday.
Poor CEO Comp Practices a Possible Indicator of Litigation, Study Finds
January 28, 2008 by Joseph McCafferty
CEO compensation practices that are poorly aligned with shareholder interests remain a powerful indicator of potential securities litigation, according to a study of securities class-action litigation conducted by the Corporate Library as part of a year-end report.
January 28, 2008 by Joseph McCafferty
CEO compensation practices that are poorly aligned with shareholder interests remain a powerful indicator of potential securities litigation, according to a study of securities class-action litigation conducted by the Corporate Library as part of a year-end report.
Sears Seeks New Chief
January 28, 2008 by Joseph McCafferty
Sears Holdings Corp. announced its chief executive Aylwin Lewis will leave the company, effective Feb 2, the latest in a shake-up of the firm that operates the Sears and Kmart chain of stores.
January 28, 2008 by Joseph McCafferty
Sears Holdings Corp. announced its chief executive Aylwin Lewis will leave the company, effective Feb 2, the latest in a shake-up of the firm that operates the Sears and Kmart chain of stores.
PCAOB Public Forum to Weigh New Auditing Standards
January 28, 2008 by Joseph McCafferty
The Public Company Accounting Oversight Board hosts an open meeting tomorrow to consider adopting changes to its auditing standards.
January 28, 2008 by Joseph McCafferty
The Public Company Accounting Oversight Board hosts an open meeting tomorrow to consider adopting changes to its auditing standards.
Moody’s Buys Valuation Company
January 28, 2008 by Joseph McCafferty
Moody's Corp. today announced that it has acquired BQuotes, a provider of price discovery tools and end-of-day pricing services for a wide range of fixed income securities. The acquisition enhances Moody's product offering in the fixed-income valuations and pricing arena, augmenting the firm's efforts to deliver tools that facilitate price transparency in global fixed income markets, especially for complex structured securities and derivative instruments.
January 28, 2008 by Joseph McCafferty
Moody's Corp. today announced that it has acquired BQuotes, a provider of price discovery tools and end-of-day pricing services for a wide range of fixed income securities. The acquisition enhances Moody's product offering in the fixed-income valuations and pricing arena, augmenting the firm's efforts to deliver tools that facilitate price transparency in global fixed income markets, especially for complex structured securities and derivative instruments.
Jobs Gets $1, Starbucks Execs Denied Bonuses
January 25, 2008 by Joseph McCafferty
While Apple CEO Steve Jobs continued his tradition of being paid $1 in salary, Starbucks executives Howard Schultz, Jim Donald and Jim Alling saw their bonuses cut because the coffee company did not meet internal profit targets, according to a filing this week with the Securities and Exchange Commission.
January 25, 2008 by Joseph McCafferty
While Apple CEO Steve Jobs continued his tradition of being paid $1 in salary, Starbucks executives Howard Schultz, Jim Donald and Jim Alling saw their bonuses cut because the coffee company did not meet internal profit targets, according to a filing this week with the Securities and Exchange Commission.
Companies Split on Providing Proxy Materials Electronically, Study Finds
January 25, 2008 by Joseph McCafferty
About half of U.S. companies who responded to a recent survey by the National Investor Relations Institute (NIRI) are choosing to provide proxy materials electronically to shareholders this year, while the remaining number is awaiting to see the result before making a decision on whether to use the method.
January 25, 2008 by Joseph McCafferty
About half of U.S. companies who responded to a recent survey by the National Investor Relations Institute (NIRI) are choosing to provide proxy materials electronically to shareholders this year, while the remaining number is awaiting to see the result before making a decision on whether to use the method.
Canadian Banks’ Shareholders Spurred to Ask for Say on Pay
January 25, 2008 by Joseph McCafferty
Along with their proxy ballots, shareholders of Canada's largest banks are expected to find a shareholder resolution asking them to decide whether the banks should begin holding the country's first say-on-pay votes.
January 25, 2008 by Joseph McCafferty
Along with their proxy ballots, shareholders of Canada's largest banks are expected to find a shareholder resolution asking them to decide whether the banks should begin holding the country's first say-on-pay votes.