Washington

The Coming Global-Warming Litigation Onslaught

June 5,2008
The plaintiffs’ bar is raising the stakes in the global-warming debate through what AJP partner Southeastern Legal Foundation (SLF) describes as “the most dangerous litigation in America.” Full Story

Fixing the Rating Game

June 1,2008 by Aaron Bernstein
The SEC may not take up controversial issues like shareholder access to the proxy this year, but boards can expect action on other topics, including credit-rating agencies. Full Story

Henry Paulson: Man With a Plan

June 1,2008
There will be no quick fixes to the current credit crisis, nor will the framework for improving regulatory structures be built overnight. Speaking before the spring gathering of the Council of Institutional Investors in April just weeks after the formal introduction of a controversial blueprint for modernizing the financial regulatory structure, U.S. Treasury Secretary Henry M. Paulson Jr. outlined the vast challenges that lie ahead. Full Story

Here Come the Regulators

June 1,2008 by Kirke Hasson and Ernie Patrikis
The fallout from the subprime and credit crisis continues to highlight imperfections in our banking and finance system. A bright light is now being shined on the patchwork of regulatory bodies, often with overlapping jurisdictions and prerogatives, tasked with overseeing financial and banking entities. Full Story

State Litigation Guide

June 1,2008 by Steven B. Hantler
Commentators taking note of the recent felony convictions of several high-profile plaintiffs’ lawyers, including Bill Lerach and Melvyn Weiss, have declared that the tort reform battle is over and the corporate defenders have won. Nothing could be further from the truth. While a few big guys may be cooling their heels in jail, it’s still not safe to tread in America’s litigation waters. Full Story

SWFs to the Rescue

April 1,2008 by Aaron Bernstein
Over the past six to nine months, it has seemed as if many major American and European financial institutions have been getting government bailouts. Only the governments haven’t been in Washington or Paris. Full Story

The Litigation Storm

February 1,2008 by Judy Warner
Boards were just beginning to bask in the milder securities class-action litigation climate. After record numbers of suits in the early part of the decade, the number of cases was dwindling to the point that directors wondered if a permanent change had occurred. There were numerous reasons for such optimism. Full Story

Reviving the Attorney-Client Privilege

December 1,2007 by Michael R. Bromwich
Once upon a time, federal law enforcement agencies investigated allegations of corporate criminal activity using their own powers, authorities, and investigative techniques. Companies that were subject to federal criminal investigations relied on their in-house and outside counsel to defend them vigorously. Full Story

A Close Look at Proxy Advisors

October 1,2007
This summer, the U.S. Government Accountability Office released its long-awaited report on the state of the proxy-advisory industry. The report, which was requested by members of Congress, looked at whether or not proxy advisory firms have conflicts of interest that could skew the objectivity of their vote recommendations. According to the findings, the Securities and Exchange Commission did not identify any major violations in its examinations of such firms. Full Story

NACD: 'The Voice of Directors'

October 1,2007
“The sweet spot” is how Ken Daly describes his place as president and CEO of the National Association of Corporate Directors. Daly was named last May to head the 30-year-old not-for-profit association based in Washington, D.C. He succeeds Roger Raber, who ran NACD from 1999 until his retirement earlier this year. During Raber’s tenure, NACD membership grew 300 percent and its influence flourished as an educator, adviser, and commentator on board-related issues. “We want to help members understand how to be better directors,” says Daly. Full Story

SEC on Pay Disclosure: 'Try Again'

October 1,2007
In late August, the Securities and Exchange Commission sent comment letters to more than 300 companies offering an opinion on how they complied with the new compensation discussion and analysis (CD&A) rules that went into effect earlier in the year. The gist of the SEC’s comments? “We’re not happy.” Full Story

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. Full Story

The History of War and Fiscal Policy

September 1,2007 by Judy Warner
In his first book, Robert Hormats arrives at the damning conclusion that the current war on terrorism "has replaced Vietnam as the poster child for how not to finance a war." Full Story

Options: The Noose Tightens

August 20,2007
Controversies regarding backdating stock options continue to pick up speed. Not only have the first criminal charges been filed, but marquee-name companies are being drawn into the fray, notably Apple Computer. Full Story

Backdate-Proof Options Pricing?

April 1,2007 by Directorship Editors
After years of haggling, the Securities and Exchange Commission has approved a new, derivative-based method of setting market values for stock options. The new method was devised by Zions Bancorporation and uses an online, modified Dutch auction to set market-based prices for options. Full Story

Barney Frank's Grand Bargain

April 1,2007 by
The outspoken champion of the working class wants to compromise with Corporate America. A close look at Frank suggests he will take a measured approach to leading Financial Services. Acquaintances say that, ultimately, his steel trap of a mind always reins in his emotions. Full Story

Drumbeats on CEO pay

April 1,2007 by Directorship Editors
True to predictions, the new Democratic-controlled Congress is moving toward reining in executive compensation. The House Financial Services Committee, headed by U.S. Rep. Barney Frank is looking to revise a failed 2005 bill that would have required shareholders to approve pay packages for top executives. Full Story

More Progress Vs. the Plaintiffs' Bar

April 1,2007 by Directorship Editors
For the second half of 2006, the chamber spent a record $49.2 million on lobbying, with $17.7 million of that amount handed out by the chamber’s Institute for Legal Reform, according to the campaign fund database Political Money Line. A good part of the funds were spent on pushing the chamber’s ideas of tort reform, designed to limit shareholder lawsuits. Full Story