Hedge Fund Makes Case for Activism
January 15, 2009 by Joseph McCafferty
In the time-honored battle between activist shareholders and corporate boardrooms, the activists have launched another volley as one hedge fund claims that activist tactics benefit companies in the long-term.
January 15, 2009 by Joseph McCafferty
In the time-honored battle between activist shareholders and corporate boardrooms, the activists have launched another volley as one hedge fund claims that activist tactics benefit companies in the long-term.
RiskMetrics Previews ’09 Proxy Season
December 29, 2008 by Joseph McCafferty
With 2008 just about in the books, analysts at RiskMetrics have cast their gaze towards the new year and the upcoming proxy season.
December 29, 2008 by Joseph McCafferty
With 2008 just about in the books, analysts at RiskMetrics have cast their gaze towards the new year and the upcoming proxy season.
More Energy Firms Link Pay to Performance
December 15, 2008 by Joseph McCafferty
Forty-nine percent of CFOs at U.S. oil and gas exploration and production companies say their companies’ executive compensation programs are now more closely tired to performance than they were before new proxy disclosure rules became effective.
December 15, 2008 by Joseph McCafferty
Forty-nine percent of CFOs at U.S. oil and gas exploration and production companies say their companies’ executive compensation programs are now more closely tired to performance than they were before new proxy disclosure rules became effective.
Another Shareholder Pushes for Yahoo Sale
December 11, 2008 by Joseph McCafferty
Ivory Investment Management, which owns 1.5 percent of Yahoo’s shares, is pressing the Internet company to sell its search business to Microsoft, asserting that the deal would more than double Yahoo’s value.
December 11, 2008 by Joseph McCafferty
Ivory Investment Management, which owns 1.5 percent of Yahoo’s shares, is pressing the Internet company to sell its search business to Microsoft, asserting that the deal would more than double Yahoo’s value.
Shareholder Activists Stirring at Dillard’s
December 9, 2008 by Joseph McCafferty
Two hedge fund investors are throwing their weight around at Dillard’s, with demands for corporate records relating to the relationships between the Dillard family and the company’s independent directors.
December 9, 2008 by Joseph McCafferty
Two hedge fund investors are throwing their weight around at Dillard’s, with demands for corporate records relating to the relationships between the Dillard family and the company’s independent directors.
RiskMetrics Releases Annual Proxy Advisory
December 1, 2008 by Joseph McCafferty
RiskMetrics released yesterday its annual proxy voting policies, emphasizing executive pay, corporate board structure, and audit practices as the most important areas for voters.
December 1, 2008 by Joseph McCafferty
RiskMetrics released yesterday its annual proxy voting policies, emphasizing executive pay, corporate board structure, and audit practices as the most important areas for voters.
RiskMetrics Pans Exec Tax Reimbursement
November 25, 2008 by Joseph McCafferty
“Gross-ups,” corporate reimbursement for taxes executives pay on certain perks or “golden parachute” plans, are widespread in today’s compensation climate, but RiskMetrics is telling investors to withhold their support for directors that approve such packages.
November 25, 2008 by Joseph McCafferty
“Gross-ups,” corporate reimbursement for taxes executives pay on certain perks or “golden parachute” plans, are widespread in today’s compensation climate, but RiskMetrics is telling investors to withhold their support for directors that approve such packages.
Study: Shareholder Activism Carries Weight
November 21, 2008 by Joseph McCafferty
Though a company’s management and accounting teams may debate the merits of one system of financial reporting or another, it may be the company’s shareholders that have the deciding say in the end.
November 21, 2008 by Joseph McCafferty
Though a company’s management and accounting teams may debate the merits of one system of financial reporting or another, it may be the company’s shareholders that have the deciding say in the end.
List of Candidates to Succeed Yang Grows
November 19, 2008 by Joseph McCafferty
The board is currently searching to find a replacement so that current CEO, Jerry Yang, can step down and assume the role of chief strategist.
November 19, 2008 by Joseph McCafferty
The board is currently searching to find a replacement so that current CEO, Jerry Yang, can step down and assume the role of chief strategist.
Few Companies Volunteer ‘Say on Pay’
November 17, 2008 by Joseph McCafferty
As President-elect Barack Obama sets forth to take on Washington, legislation regarding say on pay is likely to be implemented early on. While boards are increasingly facing shareholder activist groups, very few companies are volunteering this approach as boards are weary of offering an advisory vote to shareholders.
November 17, 2008 by Joseph McCafferty
As President-elect Barack Obama sets forth to take on Washington, legislation regarding say on pay is likely to be implemented early on. While boards are increasingly facing shareholder activist groups, very few companies are volunteering this approach as boards are weary of offering an advisory vote to shareholders.
Dillard’s Faces Hedge Fund Discontent
October 28, 2008 by Joseph McCafferty
The Dillard’s department store chain has been challenged by activist shareholders to unseat its highest-paid executives, including CEO William Dillard II, president Alex Dillard, and executive vice president Mike Dillard.
October 28, 2008 by Joseph McCafferty
The Dillard’s department store chain has been challenged by activist shareholders to unseat its highest-paid executives, including CEO William Dillard II, president Alex Dillard, and executive vice president Mike Dillard.
Will Yahoo Again Face a Flustered Icahn?
October 24, 2008 by Joseph McCafferty
Yahoo said Tuesday that it would lay off at least 10 percent of its 15,000 workers as it tries to bring down expenses, which may spark some uneasiness from activist investor Carl C. Icahn.
October 24, 2008 by Joseph McCafferty
Yahoo said Tuesday that it would lay off at least 10 percent of its 15,000 workers as it tries to bring down expenses, which may spark some uneasiness from activist investor Carl C. Icahn.
Icahn to Reduce His Board Seats
October 23, 2008 by Joseph McCafferty
Agreeing with criticism that some board members are burning their candles at both ends, activist investor Carl Icahn plans to reduce the number of his director positions in the coming months.
October 23, 2008 by Joseph McCafferty
Agreeing with criticism that some board members are burning their candles at both ends, activist investor Carl Icahn plans to reduce the number of his director positions in the coming months.
2008 Proxy Voters More Forgiving
October 9, 2008 by Joseph McCafferty
A report released yesterday by RiskMetrics Group showed that investors were more forgiving in their proxy voting than last year, bucking expectations that the dwindling economy would have negatively affected shareholder support during the proxy season.
October 9, 2008 by Joseph McCafferty
A report released yesterday by RiskMetrics Group showed that investors were more forgiving in their proxy voting than last year, bucking expectations that the dwindling economy would have negatively affected shareholder support during the proxy season.
TCI Targets Chair of German Exchange
October 3, 2008 by Joseph McCafferty
The Children’s Investment Fund (TCI) is again ramping up its shareholder activism, this time targeting Kurt Viermetz, the chairman of German stock exchange operator Deutsche Boerse.
October 3, 2008 by Joseph McCafferty
The Children’s Investment Fund (TCI) is again ramping up its shareholder activism, this time targeting Kurt Viermetz, the chairman of German stock exchange operator Deutsche Boerse.
Unisys CEO to Step Down by End of Year
September 24, 2008 by Joseph McCafferty
An activist investment firm that has been attacking Unisys will see CEO Joseph McGrath step down by the end of the year.
September 24, 2008 by Joseph McCafferty
An activist investment firm that has been attacking Unisys will see CEO Joseph McGrath step down by the end of the year.
Proxy Services Advise Against Harbinger
September 22, 2008 by Joseph McCafferty
Harbinger Capital Partners Funds asked Cleveland-Cliffs shareholders on Friday for approval to double its stake to about 33 percent. However, two shareholder advisory services have advised against it.
September 22, 2008 by Joseph McCafferty
Harbinger Capital Partners Funds asked Cleveland-Cliffs shareholders on Friday for approval to double its stake to about 33 percent. However, two shareholder advisory services have advised against it.
Be Alert: Watch Your Investors
September 18, 2008 by Joseph McCafferty
The Conference Board Research Working Group on Hedge Fund Activism has released a report detailing its recommendations for large public companies and institutional investors in responding to and anticipating hostile shareholder activism movements.
September 18, 2008 by Joseph McCafferty
The Conference Board Research Working Group on Hedge Fund Activism has released a report detailing its recommendations for large public companies and institutional investors in responding to and anticipating hostile shareholder activism movements.
CSX Accedes Seats to Dissidents
September 17, 2008 by Joseph McCafferty
Railroad company CSX granted two more board seats to dissident shareholders yesterday, following a federal appeals court ruling Monday that validated the votes of activists at the CSX annual shareholder meeting.
September 17, 2008 by Joseph McCafferty
Railroad company CSX granted two more board seats to dissident shareholders yesterday, following a federal appeals court ruling Monday that validated the votes of activists at the CSX annual shareholder meeting.
Merrill Lynch Investors File Suit
September 16, 2008 by Joseph McCafferty
Merrill Lynch shareholders filed an investor lawsuit against chief executive John Thain and the company’s board of directors yesterday, alleging that the brokerage had accepted Bank of America’s buyout offer to the detriment of its shareholders.
September 16, 2008 by Joseph McCafferty
Merrill Lynch shareholders filed an investor lawsuit against chief executive John Thain and the company’s board of directors yesterday, alleging that the brokerage had accepted Bank of America’s buyout offer to the detriment of its shareholders.