Risk: Page 25
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geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Nonprofits by the Numbers
The whole affair shocked Stephen Howell, CFO of The Nature Conservancy, the largest philanthropic environmental group in the world. In May 2003, a three-part series in the Washington Post put the Conservancy’s operations under a spotlight. While the newspaper didn’t much dispute the charity’s GAA...
By Bill Birchard • July 1, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Scrushy Battles to Stay on the Board
One day after his stunning acquittal on charges that he directed a $2.7 billion accounting fraud, former HealthSouth Corp. chief executive officer Richard Scrushy has vowed to fight efforts to boot him from the company’s board of directors.“He intends to continue as a director of HealthSouth,” Sc...
By Stephen Taub • June 29, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Pfizer to Install Some Majority Voting
Becoming just one of a handful of companies to voluntarily give shareholders more say in the director-nomination process, Pfizer Inc. will adopt a form of majority voting.The drugmaker amended its corporate-governance principles to require that any director who gets a majority of withheld votes m...
By Stephen Taub • June 27, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Shareholder Proposals Still Making Waves
Nearly 23 percent of shareholder proposals have received majority votes this year, according to the Investor Responsibility Research Center. However, that initial tally is on pace to fall slightly short of last year’s success rate, when 134 proposals out of 447 (about 30 percent) got majority sup...
By Stephen Taub • June 20, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Kozlowski and Swartz Convicted
Former Tyco International Ltd. chairman and chief executive officer Dennis Kozlowski, 58, and former chief financial officer Mark Swartz, 44, were found guilty of grand larceny, securities fraud, conspiracy, and falsifying business records in their criminal trial in New York state court in Manhat...
By Dave Cook and Helen Shaw • June 17, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
AFC Settles, Makes Governance Changes
AFC Enterprises Inc. has closed the books on its accounting problems.The company — known its for Popeyes, Chicken & Biscuits, Church’s Chicken, and Cinnabon franchises — announced that it has settled the final derivative lawsuits relating to the company’s restatement for fiscal years 2000, 20...
By Stephen Taub • June 15, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Greenberg Resigns from AIG Board
Maurice R. “Hank” Greenberg resigned from the board of directors of American International Group Inc., finally severing all ties to the company he led for nearly four decades and turned into one of the world’s most dominant insurance companies, according to published reports.“My decision to resig...
By Stephen Taub • June 9, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Siebel Makes Overtures to Shareholders
Under attack by shareholders for its corporate governance policies and its management decisions in general, Siebel Systems Inc. took a few major steps in advance of today’s annual meeting.In a regulatory filing, the software giant announced that the company will institute its first quarterly divi...
By Stephen Taub • June 8, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Hedge Fund Activism Gains Momentum
Relational Investors LLC is the latest hedge fund to turn up the heat on a company to force changes in board makeup, corporate governance policies, or overall operations.Earlier this week, Relational, the largest shareholder of Sovereign Bancorp Inc., threatened to remove most of the bank’s direc...
By Stephen Taub • May 27, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Swartz Defense Rests
The defense has rested in the case against former Tyco International chief financial officer Mark Swartz.Swartz, who testified for the past eight days, continues to insist that he is innocent of charges that he looted the conglomerate of hundreds of millions of dollars, along with former chief ex...
By Stephen Taub • May 18, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Icahn Slate Wins Blockbuster Vote
After winning his proxy fight with Blockbuster Inc., Carl Icahn is extending an olive branch, after a fashion, to chief executive officer and now former chairman John Antioco.Although results won’t be official for several days, Icahn and two fellow dissidents, Edward Bleier and Strauss Zelnick, w...
By Stephen Taub • May 12, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Four Silicon Image Directors Resign
On Sunday, officials at Sunnyvale (Calif.) -based Silicon Image Inc. announced that four board members, including the chairman, resigned. Three of them reportedly quit in a dispute linked to company founder David Lee.Christopher Paisley, chairman of the board and member of the audit, compensation...
By Stephen Taub • April 26, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Two Pension Funds Target 16 Companies
The Employees Pension Plan for the American Federation of State, County, and Municipal Employees announced that during upcoming annual shareholder meetings, it will withhold votes from certain directors at 11 companies. Those directors have supported excessive executive pay that did not match com...
By Stephen Taub • April 25, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
ISS Opposes Buffett for Coke Board
Institutional Shareholder Services is recommending that Coca-Cola Co. shareholders vote against the election of Warren Buffett to the board of directors because his business ties pose a conflict of interest, according to Bloomberg.The legendary investor, who has served on the Coca-Cola’s board si...
By Stephen Taub • April 6, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
WorldCom Director’s Settlement Back On
To settle a lawsuit related to the sale of WorldCom Inc. bonds, eleven onetime directors of the company now known as MCI Inc. have once again agreed to pay out of their own pockets.The new deal — which is subject to a judge’s approval this week — was announced late last week by New York State com...
By Stephen Taub • March 21, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Sarbox Costs, Board Independence Rise
The nation’s largest companies have found that Sarbanes-Oxley compliance costs have surged in the past year, according to a new survey from the Business Roundtable.Of the 106 member companies that responded to the survey, 47 percent said they are spending more than $10 million to document their i...
By Stephen Taub • March 18, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Calpers Rethinks an Activist Policy
The California Public Employees’ Retirement System (Calpers) announced plans to scale back one of its most aggressive activist policies.Calpers stated that it will adopt the auditor independence proposals recently released by Public Company Accounting Oversight Board as a guideline for the pensio...
By Stephen Taub • March 16, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
New CEO and CFO at AIG
It’s official: Maurice “Hank” Greenberg has stepped down as chief executive officer of American International Group as part of a major shakeup at the insurance giant. He will remain as chairman, however.Co-chief operating officer and vice chairman Martin Sullivan, who joined the company in 1971, ...
By Stephen Taub • March 15, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Leadership as the Starting Point of Strategy
When it comes time to implement a strategy, many companies find themselves stymied at the point of execution. Having identified the opportunities within their reach, they watch as the results fall short of their aspirations. Too few companies recognize the reason.Mismatched capabilities, poor ass...
By The McKinsey Quarterly • March 15, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Departing Soon: Eisner, Greenberg
On Sunday, the Walt Disney Co. announced that chief executive officer Michael Eisner will step down on October 1, a year earlier than planned. He will be succeeded by president and chief operating officer Robert Iger, a Disney veteran who has served as Eisner’s second-in-command for the past five...
By Stephen Taub • March 14, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Cablevision’s Dolan Exercises ”Control”
Cablevision chairman Charles Dolan is no stranger to controversy.Earlier this week he upset governance advocates when he removed William J. Bell, Sheila A. Mahony, and Steven Rattner as directors and installed four people who are likely to support his policies: Rand Araskog, Frank Biondi, John Ma...
By Steve Bergsman • March 4, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Bally Fires Executives, Stops Severance
Bally Total Fitness fired two finance executives and stopped making severance payments to its former CFO and CEO after an investigation into the company’s accounting practices found that the individuals engaged in improper conduct.The two finance executives who were dismissed are vice president a...
By Stephen Taub • Feb. 10, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
TXU Agrees to Major Governance Changes
Officials at TXU Corp. agreed to sweeping corporate governance changes as part of a class-action lawsuit settlement with its shareholders. The investors sued the Dallas-based utility after the company’s stock price collapsed in October 2002.TXU, which has a market cap of $19 billion, also agreed ...
By Stephen Taub • Jan. 26, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Across the Board
See the results of the CFO/NACD surveyNot long after Vada Hill joined the board of Denny’s Corp., CFO Andrew Green took him on a road trip. When Hill stepped off the morning train in Philadelphia, the two men hit four local Denny’s restaurants, sampling breakfast and lunch fare along the way.The ...
By Roy Harris • Jan. 17, 2005 -
geralt. "Financial Crisis Stock Exchange Tendency" [Illustration]. Retrieved from Pixabay.
Disney Settles over Nepotism Deals
The Securities and Exchange Commission has settled charges that between 1999 and 2001, The Walt Disney Co. failed to disclose certain deals between the company and its directors and failed to disclose certain compensation paid to a director.The SEC seemed especially irked by these arrangements be...
By Stephen Taub • Dec. 22, 2004
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