The Oracle of Goldman?
June 23, 2009
Warren Buffett and his company Berkshire Hathaway Inc. are expected to maintain their $5 billion investment in Goldman Sachs Group Inc. until at least 2011.
June 23, 2009
Warren Buffett and his company Berkshire Hathaway Inc. are expected to maintain their $5 billion investment in Goldman Sachs Group Inc. until at least 2011.
SEC Commissioner Pushing for Proxy Access
March 3, 2009 by Joseph McCafferty
Elisse Walter of the Securities and Exchange Commission told reporters yesterday that her agency would be looking to allow shareholders a more direct means of nominating directors.
March 3, 2009 by Joseph McCafferty
Elisse Walter of the Securities and Exchange Commission told reporters yesterday that her agency would be looking to allow shareholders a more direct means of nominating directors.
The Return of the Shareholder
February 4, 2009 by Joseph McCafferty
Shareholder rights advocate Robert A.G. Monks uses the Obama inauguration as a jumping off point to revisit the role of the shareholder in corporate governance.
February 4, 2009 by Joseph McCafferty
Shareholder rights advocate Robert A.G. Monks uses the Obama inauguration as a jumping off point to revisit the role of the shareholder in corporate governance.
Greenberg Says AIG ‘in Crisis’
May 13, 2008 by Joseph McCafferty
In a letter issued yesterday to the board of directors of AIG, Maurice R. "Hank" Greenberg wrote as its former chief executive but more importantly as its largest single shareholder. "AIG is in crisis, Greenberg wrote, urging the board to postpone its annual meeting.
May 13, 2008 by Joseph McCafferty
In a letter issued yesterday to the board of directors of AIG, Maurice R. "Hank" Greenberg wrote as its former chief executive but more importantly as its largest single shareholder. "AIG is in crisis, Greenberg wrote, urging the board to postpone its annual meeting.
Carl Icahn, Blogger
February 8, 2008 by Joseph McCafferty
Carl Icahn, after a recent activist campagin targeting Motorola, pleaded with institutional investors to give him support in his efforts to stir change at American corporations.
February 8, 2008 by Joseph McCafferty
Carl Icahn, after a recent activist campagin targeting Motorola, pleaded with institutional investors to give him support in his efforts to stir change at American corporations.
Former CEO and Shareholder Clamors for Change at AIG
November 6, 2007 by Joseph McCafferty
American International Group former CEO Maurice R. "Hank" Greenberg has declared his interest to look for "strategic alternatives" for the giant insurance company he helped build.
November 6, 2007 by Joseph McCafferty
American International Group former CEO Maurice R. "Hank" Greenberg has declared his interest to look for "strategic alternatives" for the giant insurance company he helped build.
Shareholders at Two Major Companies Approve Ownership Changes
October 31, 2007 by Joseph McCafferty
Shareholders of Applebee’s International voted to approve IHOP Corp.'s $1.9 billion acquisition of the restaurant chain despite differences among independent shareholder advisory firms on whether to recommend the deal. Applebee’s said in a statement that votes in favor of the deal represented more than 70 percent of its common shares.
October 31, 2007 by Joseph McCafferty
Shareholders of Applebee’s International voted to approve IHOP Corp.'s $1.9 billion acquisition of the restaurant chain despite differences among independent shareholder advisory firms on whether to recommend the deal. Applebee’s said in a statement that votes in favor of the deal represented more than 70 percent of its common shares.
CEOs Likely to Get Higher Pay With Comp Consultant, Study Finds
October 30, 2007 by Joseph McCafferty
Companies using compensation consultants have a tendency to pay their CEOs more, though the pay levels of which do not seem relate to increased shareholder return, a new study by The Corporate Library finds.
October 30, 2007 by Joseph McCafferty
Companies using compensation consultants have a tendency to pay their CEOs more, though the pay levels of which do not seem relate to increased shareholder return, a new study by The Corporate Library finds.
Nazareth Cautions Against Moving Forward With SEC Vote on Proxy Access Proposals
October 30, 2007 by Joseph McCafferty
Securities and Exchange Commissioner Annette Nazareth (D) has joined a herd of voices that have said it would be unwise for the SEC to continue forward with a decision on whether or not to allow shareholders a greater say in the compositions of boards of directors, Jeremy Grant of Financial Times reported today.
October 30, 2007 by Joseph McCafferty
Securities and Exchange Commissioner Annette Nazareth (D) has joined a herd of voices that have said it would be unwise for the SEC to continue forward with a decision on whether or not to allow shareholders a greater say in the compositions of boards of directors, Jeremy Grant of Financial Times reported today.
Moody’s: Share Buybacks Don’t Always Lead to Debt Downgrades
October 26, 2007 by Joseph McCafferty
While share repurchase programs are typically considered risky to bondholders, they don’t always lead to immediate rating downgrades. Moody’s Investors Service studied 100 share repurchase agreements over the past 19 months and said that in 56 percent of the cases, the agency didn’t take any rating action.
October 26, 2007 by Joseph McCafferty
While share repurchase programs are typically considered risky to bondholders, they don’t always lead to immediate rating downgrades. Moody’s Investors Service studied 100 share repurchase agreements over the past 19 months and said that in 56 percent of the cases, the agency didn’t take any rating action.
Children’s Place Engages Lehman to Review Strategic Alternatives
October 25, 2007 by Joseph McCafferty
The board of directors at Children’s Place Retail Stores, Inc. today announced that it has recently engaged Lehman Brothers to act as its financial advisor for a review of the company’s strategic alternatives to improve operations and enhance shareholder value.
October 25, 2007 by Joseph McCafferty
The board of directors at Children’s Place Retail Stores, Inc. today announced that it has recently engaged Lehman Brothers to act as its financial advisor for a review of the company’s strategic alternatives to improve operations and enhance shareholder value.
International Paper Dumps Staggered Board Elections
October 19, 2007 by Joseph McCafferty
International Paper's board of directors this week authorized an amendment to the company's certificate of incorporation to declassify the board, and to provide for the annual election of directors. The company's proxy statement will include a proposal to the shareholders, which was recommended by the board, to approve the amendment at the 2008 annual shareholder's meeting.
October 19, 2007 by Joseph McCafferty
International Paper's board of directors this week authorized an amendment to the company's certificate of incorporation to declassify the board, and to provide for the annual election of directors. The company's proxy statement will include a proposal to the shareholders, which was recommended by the board, to approve the amendment at the 2008 annual shareholder's meeting.
Kellywood Rejects Unsolicited Proposal
October 19, 2007 by Joseph McCafferty
Kellywood Company announced that its board unanimously determined that an unsolicited proposal by Sun Capital Securities Group, LLC, is not in the best long-term interest of the company and its shareholders.
October 19, 2007 by Joseph McCafferty
Kellywood Company announced that its board unanimously determined that an unsolicited proposal by Sun Capital Securities Group, LLC, is not in the best long-term interest of the company and its shareholders.
Buffett Sells PetroChina Stake: Profit Taking or Yielding to Activists?
October 12, 2007 by Directorship Editors
Warren Buffett has decided to sell off his most high-profile investment in China – PetroChina Co., of which Berkshire Hathaway, Inc. holds a sizable stake. Activist are claiming victory, but some investors see a shrewd bet that China is overvalued.
October 12, 2007 by Directorship Editors
Warren Buffett has decided to sell off his most high-profile investment in China – PetroChina Co., of which Berkshire Hathaway, Inc. holds a sizable stake. Activist are claiming victory, but some investors see a shrewd bet that China is overvalued.
Proxy Advisory Firms Say Vote For Cytyc, Hologic Merger
October 11, 2007 by Joseph McCafferty
Proxy advisory firms RiskMetrics Group, Glass Lewis & Co., and Egan-Jones Proxy Services are recommending that stockholders of Cytyc Corporation vote for a proposed merger of that company and Hologic, Inc.
October 11, 2007 by Joseph McCafferty
Proxy advisory firms RiskMetrics Group, Glass Lewis & Co., and Egan-Jones Proxy Services are recommending that stockholders of Cytyc Corporation vote for a proposed merger of that company and Hologic, Inc.
Shareholder Communications: Why ‘Short Termism’ May Be Short Lived
October 1, 2007 by Louis M. Thompson, Jr.
Audit committees have developed a greater sensitivity to the financial reporting and reputation risks that taxes can pose for their companies today. The number of tax-related material weaknesses reported under Sarbanes-Oxley Section 404, as well as the recent implementation of the Financial Accounting Standards Board's FIN 48, has prompted this increased attention.
October 1, 2007 by Louis M. Thompson, Jr.
Audit committees have developed a greater sensitivity to the financial reporting and reputation risks that taxes can pose for their companies today. The number of tax-related material weaknesses reported under Sarbanes-Oxley Section 404, as well as the recent implementation of the Financial Accounting Standards Board's FIN 48, has prompted this increased attention.
The 2008 Proxy Season
October 1, 2007 by Patrick McGurn
It is not easy to prognosticate on the 2008 Proxy Season and the future direction of corporate governance. For a little help, I recently turned to a renowned, 60-something-year-old pundit—the Magic 8 Ball.
October 1, 2007 by Patrick McGurn
It is not easy to prognosticate on the 2008 Proxy Season and the future direction of corporate governance. For a little help, I recently turned to a renowned, 60-something-year-old pundit—the Magic 8 Ball.
The Battle Brewing Over Director Elections
October 1, 2007 by Aaron Bernstein
The corporate-governance battle looming over Washington this fall revolves around the issue of proxy access. Last July, the Securities and Exchange Commission made good on a pledge by Chairman Christopher Cox to address shareholder demands for greater access to proxy ballots. But the two proposals voted on by the divided commission flatly contradict each other, with one allowing companies to continue excluding shareholder nominations to the board from corporate ballots and the other restricting them through tight guidelines.
October 1, 2007 by Aaron Bernstein
The corporate-governance battle looming over Washington this fall revolves around the issue of proxy access. Last July, the Securities and Exchange Commission made good on a pledge by Chairman Christopher Cox to address shareholder demands for greater access to proxy ballots. But the two proposals voted on by the divided commission flatly contradict each other, with one allowing companies to continue excluding shareholder nominations to the board from corporate ballots and the other restricting them through tight guidelines.
Whitworth: The Alchemist In the Boardroom
June 1, 2007 by Directorship Editors
The activist shareholder effects boardroom change to increase value—what's so wrong about that?
June 1, 2007 by Directorship Editors
The activist shareholder effects boardroom change to increase value—what's so wrong about that?
A New Judicial Perspective
June 1, 2007 by Charles Elson
Companies beware: Delaware judges no longer give automatic deference to corporate officers and boards.
June 1, 2007 by Charles Elson
Companies beware: Delaware judges no longer give automatic deference to corporate officers and boards.