Governance Notes

Seperate University Studies Bemoan High CEO Pay

Governance Notes — Sat, 26 Dec 2009 23:37:13 +0000

New research suggests that companies with over the top CEO pay lag behind the competition. The two studies, one from professor Lucian Bebchuk of Harvard Law School and the other from Raghavendra Rau of Purdue University, are summarized in this WSJ article from Dec. 26.

Happy Holidays!

Governance Notes — Fri, 25 Dec 2009 17:19:28 +0000

We hope you have an excellent and happy holiday season!

Rising Shareholder Activism in Europe Points to a Rough M&A Season

Governance Notes — Thu, 24 Dec 2009 23:00:00 +0000

With M&A deal volume down significantly in 2008 and most of 2009, activist shareholders had few opportunities to stifle transactions. However, as the year comes to a close, it’s clear that shareholders in Europe are getting more active according to a WSJ article published on Dec. 24. In 2010, “after one of the worst deal downturns in memory, shareholders are expected to play a key role in which deals get done – and which deals don’t.”

Cablevision Tightens the Knot with Top 3 Execs

Governance Notes — Thu, 24 Dec 2009 14:01:40 +0000

Cablevision, while planning for a spin-off of Madison Square Garden Inc., has found time to ink five-year employment contracts with each of its top three executives. Read this Dec. 24 WSJ article, where the dollars add up quickly, for more details.

Footnoted.org is on Twitter

Governance Notes — Thu, 24 Dec 2009 10:56:52 +0000

Footnoted.org, easily the best source for zany and wacky news from SEC filings, is on Twitter. You can follow them now at @Footnoted.

Pay Czar Kenneth Feinberg Provides a Frank Assessment of His Work

Governance Notes — Thu, 24 Dec 2009 10:37:16 +0000

Directorship Magazine has just released a full transcript of a recent speech by the U.S. special master of compensation, Kenneth Feinberg, detailing his process for setting executive compensation at the seven largest bailout recipients. I think you’ll find his candor and matter of fact tone surprising.

Directorship Magazine is on Twitter

Governance Notes — Thu, 24 Dec 2009 10:01:22 +0000

Directorship Magazine, home to some of the best coverage of compensation and corporate governance news, is on Twitter. You can follow them now at @Directorship.

Silicon Valley Boards Lose Their Start-Up Feel

Governance Notes — Thu, 24 Dec 2009 09:01:25 +0000

According to a new study released by the executive-recruiting firm Spencer Stuart, summarized here by the WSJ, Silicon Valley boards have matured a great deal since the early days of the valley. And the result: many big company boardrooms between San Francisco and San Jose now look like your average S&P 500 firm.

Fannie and Freddie Rekindle Pay Controversies

Governance Notes — Thu, 24 Dec 2009 08:01:49 +0000

More compensation news, this time from Fannie and Freddie where both CEOs are in line to collect multiple millions according to this Dec. 24 WSJ article.

Pay Woes Continue to Hinder AIG

Governance Notes — Thu, 24 Dec 2009 07:01:23 +0000

AIG’s Robert Benmosche and Kenneth Fienberg, the U.S. Pay Czar, go head-to-head over pay (again and again) writes the WSJ in this Dec. 24 article.