Risk: Page 22
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geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Where Are They Now?
Where Are They Now?The outcome of five major financial-fraud trialsCompanyStatusPrison SentenceWorldComBernard Ebbers, former CEOGuilty verdict25 yearsScott Sullivan, former CFOPleaded guilty5 yearsDavid Myers, former controllerPleaded guilty1 year, 1 dayBuford Yates, former accounting directorPl...
By Joseph McCafferty • Sept. 29, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Ex-HP Chair Dunn Pins Leak Probe on CFO
Former Hewlett-Packard chairman Patricia Dunn said the company’s chief financial officer, Robert Wayman, approved an investigation into boardroom leaks that has since led to the resignation of Dunn and several other directors and executives.On Thursday morning, general counsel Ann Baskins became ...
By Stephen Taub • Sept. 28, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Ebbers Goes to Prison
Former WorldCom Corp. chief Bernard Ebbers reports to a Federal prison Tuesday to begin serving a 25-year prison sentence for his role in the telecom company’s $11 billion accounting fraud. He is 65 years old.According to the AP, Ebbers must serve at least 21 years and four months of his sentenc...
By Stephen Taub • Sept. 26, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
CA Reports All Directors Re-Elected
Score this one a major victory for CA. The software giant formerly called Computer Associates announced that according to preliminary results of voting at Monday’s shareholder meeting, all 11 directors were re-elected for one-year terms. They received between 74 percent and 98 percent of the vote...
By Stephen Taub • Sept. 18, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Appeals Court Revives Proxy-Access Issue
The governance issue of proxy access for shareholders seems to have been awakened from its slumber. In a stunning decision, an appeals court ruled on Tuesday night that shareholders should be allowed to consider proposals that would let them nominate their own candidates for a company’s board, ac...
By Stephen Taub • Sept. 7, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
How Much is that Watchdog in the Window?
Proxy advisor Institutional Shareholder Services (ISS) may be up for sale.The owners of the firm, which rates the corporate governance practices of public companies and recommends how institutional investors should vote their proxies, are seeking between $400 million and $500 million, according t...
By Stephen Taub • Sept. 6, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Home Depot Approves Majority Voting
Following the governance precedent set by several other major companies earlier this year, The Home Depot adopted a majority voting standard for the election of its directors on Tuesday. The new voting standard goes into effective in May 2007, which will affect the company’s next board election.T...
By Helen Shaw • Aug. 30, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Infosys Fines Exec for Tardy Reporting
Infosys Technologies, a Nasdaq-listed software and IT consulting company based in India, has fined one of its executives what amounts to more than one-quarter of his salary for breaking the company’s code of conduct.Srinath Batni, an executive director who heads up the Strategic Groups unit for t...
By Marie Leone • Aug. 30, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Investors Back Shareholder Resolutions
Investors are increasingly supporting shareholder resolutions calling for change in a company’s corporate governance practices. On average, eight of 11 different measures received more support this past year than during the 2005 proxy voting season, according to a preliminary Institutional Shareh...
By Stephen Taub • Aug. 22, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
San Diego Report Eyes Expanded CFO Role
Among a bevy of recommendations to cure the ills that they say led to widespread mismanagement and legal violations within San Diego’s government, the authors of an independent audit committee report are calling on the city to strengthen the role and accountability of its chief financial officer....
By Stephen Taub and David Katz • Aug. 10, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Ousted Atmel CEO Fires Back
Atmel Corp. Monday announced that its board of directors fired CEO George Perlegos, executive vice president Gust Perlegos, and two other executives following an independent investigation into allegations regarding the misuse of corporate travel funds.George Perlegos and Gust Perlegos were also a...
By Stephen Taub • Aug. 7, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
CEO-as-Chairman Still the Rule in US
Lead independent director or non-executive chairman?This is the choice companies are making these days to meet governance standards.So far, it’s clear that most companies in the US are more comfortable with the former rather than splitting up the CEO and chairman roles.According to a new report f...
By Stephen Taub • Aug. 3, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Delaware Rules
Reporters descending on the hamlet of Georgetown for The Walt Disney Co.’s Delaware Court of Chancery trial poked fun at the Mayberry-like setting. In Vanity Fair’s February 2005 account of the shareholders’ star-studded battle to recover the $130 million severance paid to president Michael Ovitz...
By Roy Harris • Aug. 1, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Clear Channel Adopts Majority Voting
Clear Channel Communications is the latest among a growing number of companies to institute some sort of majority vote requirement for electing directors.In the case of the radio owner and advertising company, it has amended its bylaws to change the vote standard for the election of directors fro...
By Stephen Taub • July 31, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Wilson Resigns from Disney’s Board
Walt Disney Co. announced that long-time director and one-time chief financial officer Gary Wilson has resigned from the board under its term limits provision.Wilson, who has been a director with the media giant for 21 years, resigned under the company’s “length of service” policy which are part ...
By Stephen Taub • July 31, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Phony Katrina Claim Costs CEO $100K
The former chief executive officer of a water-treatment company, who allegedly made false claims about the company’s involvement in Hurricane Katrina relief efforts, has agreed to pay $100,000 to settle charges by the Securities and Exchange Commission.The commission’s complaint charges that Denn...
By Stephen Taub • July 7, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
ABB Employees Settle Bribery Charges
Four former ABB Ltd. employees, including a former finance executive, have agreed to settle civil charges with the Securities and Exchange Commission that they violated the anti-bribery provisions of the Foreign Corrupt Practices Act.The four are Ian N. Campbell, a former vice president of financ...
By Stephen Taub • July 6, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Say Yes to Dr. No?
In 1917 the U.S. Navy was in a panic over German U-boats, which had been sinking American ships in the Atlantic. Henry Ford, who had earlier boasted that his assembly lines could push out a thousand submarines a day, offered his company’s services. If he could build cars, he reasoned, why not boa...
By Don Durfee • July 1, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Apparel Company Puts Execs on Leave
Apparel manufacturer Hampshire Group has place three top executives on administrative leave as the company’s audit committee investigates of a host of issues.The three individuals are chief executive officer Ludwig Kuttner; executive vice president and treasurer Charles Clayton, also the former c...
By Stephen Taub • June 22, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Time Warner CFO Named by Alleged Madam
The chief financial officer of Time Warner has been identified by alleged prostitute and madam Andreia Schwartz as one of her “sugar daddies,” according to reports published over the weekend by The New York Post and The New York Daily News.Both papers reported Schwartz’s arrest last Wednesday on ...
By Stephen Taub • June 19, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
HealthSouth Ex-Controller Gets Eight Years in Prison
Hannibal “Sonny” Crumpler, a former HealthSouth finance executive, was sentenced to eight years in prison for his role in the company’s $2.7 billion accounting scandal, the Associated Press has reported. This is the longest term given to anyone at the company.Crumpler, former controller of the co...
By Stephen Taub • June 16, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Cisco Combines Chairman and CEO Roles
Bucking a widespread trend , Cisco Systems has tapped John Chambers to succeed John Morgridge as chairman and to continue to serve as the company’s CEO. The appointment will go into effect in November, when Cisco holds its annual shareholder meeting.The decision, the result of a unanimous vote by...
By Stephen Taub • June 9, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Buffet of Fraud Charges at Buca
Criminal and civil fraud charges were filed Wednesday against several former executives of Buca Inc., which operates 104 Italian restaurants in 28 states under the names Buca di Beppo and Vinny T’s.The U.S. Attorney’s Office for the District of Minnesota handed up criminal charges against former ...
By Stephen Taub • June 7, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Humble Depot?
Home Depot Inc. CFO Carol Tomé said the week since its contentious May 25 annual meeting had “been really miserable,” and that negative shareholder reactions had led the company to reject the minimalist meeting format it had installed. The company said on Thursday that it would return to its prev...
By Roy Harris • June 5, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Governance: It’s a Regional Thing
“Corporate governance” means many things to many institutional investors, often depending on where in the world they operate, according to a new report by Institutional Shareholder Services.For example, 34 percent of U.S. institutional investors say “enhanced returns” are the most significant adv...
By Marie Leone • June 2, 2006
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