Category Archives: governance

What is the Point of Fannie’s Directors?

In a world where an AIG offsite meeting can cause a public uproar, it’s interesting that so few people seem to care very much about the sums of money being paid to Fannie Mae’s directors. Dean Baker, of course is … Continue reading

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How Long Will Rick Wagoner Last?

Joe Nocera is taking to blogging like Steve Jobs took to turtlenecks: “Rick has the unified support of the entire board to a person,” the company’s lead outside director, George M.C. Fisher, told Bill Vlasic of The Times in an … Continue reading

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Why Force Your CEO to be Chairman?

Gary Wilson finds an interesting bylaw in some of America’s bluest blue-chip companies: Such companies as General Electric, Coca-Cola, Exxon Mobil, UPS, Deere, Caterpillar, CSX and Johnson & Johnson actually have bylaws that require the CEO to also serve as … Continue reading

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Shareholder Activism, K-12 Edition

The shareholder-activist playbook is simple. "You are working for us," say a group of outspoken people who know how to throw their weight around and how to apply pressure to the board. Pretty soon, the board is putting pressure on … Continue reading

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Have Any Bank Boards Done Anything Right?

Francesco Guerrera and Peter Thal Larsen have a long and intelligent article on banks’ boards today. They point out that board members, the people with ultimate oversight over the multi-billion-dollar losses which have devastated the industry, have emerged all but … Continue reading

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Annals of Crap Succession Planning, Wachovia Edition

What a mess. Wachovia’s board, led by its chairman of less than a month, Lanty Smith, has fired the CEO, Kennedy Thompson, with no idea of who’s going to replace him. There’s now an interim CEO (Smith) as well as … Continue reading

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US Sugar: No Victim of Nafta

Mary Williams Walsh, in the NYT, has a good investigation of US Sugar, and the way that its managers seem to be enriching themselves at the expense of their employee-shareholders. It is unfortunate, however, that one sentence, buried in her … Continue reading

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Citi’s Dreadful Succession Planning

Sandy Weill is sniping at Chuck Prince via the FT – again. Why? It makes him look like a petty and bitter old man, rather than any kind of elder statesman of finance. Interestingly, this time he’s not just blaming … Continue reading

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SocGen CEO Finally Resigns

Finally. SocGen CEO Daniel Bouton will officially resign as of May 12, and it seems like SocGen’s head of investment banking, Jean-Pierre Mustier, won’t last much longer either. Bouton will remain as chairman, but my guess is that’s a face-saving … Continue reading

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News Corp’s Cutest Board Member

"I’m not just some idiotic girl in piggytails yodeling," says Natalie Bancroft in an interview for the March issue of Portfolio, who was photographed by João Canziani. "I’m working my little butt off." The daughter of Joyce Bancroft, a Dutch-Brazilian … Continue reading

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