Risk: Page 24
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geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Proxy Scorecard: Peace Pipes in 2005
It looks like corporate-governance proponents checked their boxing gloves at the door during the 2005 proxy season. With fewer proxy contests, fewer shareholder proposals, and a management push to declassify boards, companies were doing more listening, and investors made progress in their quest f...
By CFO Editorial Staff • Jan. 1, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Socially Responsible, or Unacceptable?
Despite occasional indications to the contrary, officers at most firms insist that their companies are upstanding corporate citizens. Now, some investment banks are looking to test the validity of those claims.Over the past year or so, several marquee investment banks — including The Goldman Sach...
By Edward Teach • Jan. 1, 2006 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Insider Trading Charges for Qwest Ex-CEO
Federal prosecutors have charged Joseph Nacchio, the former chief executive officer of Qwest Communications International Inc., with 42 counts of insider trading, according to published reports.Nacchio has been accused of making $100.8 million by trading in Qwest shares between January 2 and May ...
By Stephen Taub • Dec. 20, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Two Views of Virtue
Corporate social responsibility (CSR), the idea that companies have obligations not just to their investors but also to their stakeholders, society, and the environment, is hot. A recent Google search turned up 4,680,000 hits for the phrase, compared with 2,340,000 hits for “shareholder value.” H...
By Edward Teach • Dec. 15, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Wells Notices for Hollinger Directors
The Securities and Exchange Commission may charge directors who served on Hollinger International Inc.’s audit committee for allowing an alleged fraud to take place under their nose, according to Bloomberg, citing two people with direct knowledge of the matter.The wire service reported that the S...
By Stephen Taub • Dec. 14, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Scrushy Resigns from HealthSouth Board
Richard Scrushy has finally resigned from HealthSouth Corp.’s board of directors.According to the Birmingham News, the company’s founder, former chairman, and former chief executive officer claimed in a letter to the board that HealthSouth has reduced his role as a director and chairman to virtua...
By Stephen Taub • Dec. 6, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Corporate Crime Increases
So much for Sarbanes-Oxley and all of the other corporate-governance changes instituted by regulators and the stock exchanges. Nearly half of all organizations worldwide, including U.S. companies, admit they have been the victim of corporate crime in the past two years, according to Pricewaterhou...
By Stephen Taub • Nov. 30, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Closing the Book on Adelphia Trials
Michael Rigas, a son of Adelphia Communications Corp. founder John Rigas, pleaded guilty Wednesday to a charge of making a false entry in a financial record, reported the Associated Press. As a result, the company’s former executive vice president for operations will not be retried on charges of ...
By Stephen Taub • Nov. 23, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Hollinger Arraignments Postponed
Conrad Black was a no-show at his scheduled arraignment on fraud charges in a Chicago courtroom on Tuesday, according to published reports.His arraignment, as well as those of co-defendants John Boultbee, a former chief financial officer, and Peter Atkinson, former general counsel, also were post...
By Stephen Taub • Nov. 22, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Georgia-Pacific CEO to Receive $130M
When Koch Industries completes its purchase of Georgia-Pacific Corp., it will mark a big payday for A.D. “Pete” Correll, the outgoing chairman and chief executive officer of the target company. Correll stands to receive a package of stock-based compensation and other goodies worth a total of abou...
By Stephen Taub • Nov. 21, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
AIG Board Elects Former SEC Accountant
American International Group Inc. has elected a former chief accountant of the Securities and Exchange Commission to a key board committee and announced several corporate-governance changes.Michael H. Sutton, who served as chief accountant of the commission from 1995 until his retirement in 1998,...
By Stephen Taub • Oct. 21, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Judge Orders Scrushy, SEC to Mediate
U.S. District Judge Inge Johnson has ordered mediation for the Securities and Exchange Commission’s lawsuit against HealthSouth Corp.’s co-founder, former chairman, and former chief executive officer, Richard Scrushy.The SEC’s civil case was put on hold in November 2003, when federal prosecutors ...
By Stephen Taub • Sept. 20, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
S&P Stops Issuing Governance Scores
In a marked turnaround from post-Enron days when strong corporate governance became a key selling point to investors, Standard & Poor’s Governance Services said it would no longer provide public corporate governance scores for U.S. companies, and withdrew its corporate governance score (CGS) ...
By Stephen Taub • Sept. 9, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Board Recruitment More of a Challenge
Two recent surveys have found that directors are getting harder to recruit and more expensive to pay.The median compensation for directors who sit on corporate boards at 350 of the largest public U.S. companies rose to $155,000 in 2004, according to an annual survey by Mercer Human Resource Consu...
By Craig Schneider • Sept. 2, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Insider Stock Sales Eyed at Molson Coors
The board of directors of Molson Coors Brewing Co. has launched a wide-ranging investigation into the actions of current and former executives regarding the merger of Adolph Coors Co. and Molson Inc.According to the Rocky Mountain News, the board is focusing on transactions by chief executive off...
By Craig Schneider • Sept. 2, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Shell Settles Suits for $9.2 Million
Royal Dutch/Shell Plc. has agreed to pay $9.2 million and make corporate governance reforms to settle four shareholder lawsuits that stemmed from the company’s oil-reserves scandal, according to news reports.The settlement resolves lawsuits that were pending in U.S. federal courts in New York and...
By Craig Schneider • Sept. 1, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Verizon Rebuffs MCI Governance Rules
Verizon Communications Inc. has reportedly set forth a closing condition for its $8.5 billion acquisition of MCI Corp.: The combined company shouldn’t be required abide by the corporate governance principles that MCI adopted when it emerged from bankruptcy.According to the Financial Times, adopti...
By Craig Schneider • Aug. 26, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Fiduciary Duty in the Zone of Insolvency
During the past few years, the corporate-governance spotlight has been shining brightly on larger public companies. However, one lesson of a recent court case, Pereira v. Cogan, might be that because private companies are subject to a lower level of regulatory scrutiny than their public counterpa...
By Helen Shaw • Aug. 25, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Disney Adopts Majority Voting
The Walt Disney Co. has become the latest major company to require that directors receive a majority of the votes cast in order to secure their seats.Though that might seem self-evident, most U.S. corporations use a plurality model, according to the Investor Responsibility Research Center. Under ...
By Dave Cook and Stephen Taub • Aug. 19, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Hollinger, Two Executives Indicted
Federal prosecutors have charged two former executives of U.S.-based newspaper holding company Hollinger International Inc. and a privately held Canadian company with fraudulently diverting more than $32 million through a complex series of self-dealing transactions.A seven-count indictment charge...
By Stephen Taub • Aug. 18, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
For Banks, Better-run Means Better-rated
Experts may still be debating whether good corporate governance results in higher stock prices. At least for banks, however, governance practices clearly have a big impact on credit ratings and outlooks, according a review of 27 major U.S. financial institutions by Moody’s Investors Service.That ...
By Stephen Taub • Aug. 17, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Disney Wins Shareholder Lawsuit
Score one for boards of directors.Walt Disney directors were vindicated Tuesday when a Delaware judge ruled they did not violate their responsibilities to shareholders when they approved chief executive officer Michael Eisner’s decisions to hire and fire former president Michael Ovitz. The dismis...
By Stephen Taub • Aug. 10, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Boards Eye Mandatory Retirement
Computer-equipment supplier Cisco Systems Inc. has announced that individuals age 70 or older will no longer be eligible for nomination or renomination to the company’s board of directors. “This provides both the board and our shareholders with a clear roadmap for the natural evolution of our boa...
By Stephen Taub • July 22, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Merrill Taps SEC Enforcement Attorney
Merrill Lynch & Co. is the latest company to call on a big name from the Securities and Exchange Commission to help bolster its credibility. The investment bank named David L. Kornblau, chief litigation counsel of the SEC’s Division of Enforcement, as its head of regulatory affairs, effective...
By Stephen Taub • July 7, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
AIG Names Levitt as Advisor
American International Group Inc. has named Arthur Levitt, who served as chairman of the Securities and Exchange Commission from 1993 to 2001, as a special advisor to AIG’s board of directors and its nominating and corporate governance committee.His duties will include advising the committee on p...
By Stephen Taub • July 6, 2005
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