Governance Notes

Archive for 2009|Yearly archive page

Seperate University Studies Bemoan High CEO Pay

In Compensation on December 26, 2009 at 5:37 pm

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!

In Site News on December 25, 2009 at 11:19 am

We hope you have an excellent and happy holiday season!

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

In The Boardroom on December 24, 2009 at 5:00 pm

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

In Compensation on December 24, 2009 at 8:01 am

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

In Governance Media on December 24, 2009 at 4:56 am

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

In Compensation on December 24, 2009 at 4:37 am

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

In Governance Media on December 24, 2009 at 4:01 am

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

In The Boardroom on December 24, 2009 at 3:01 am

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

In Compensation on December 24, 2009 at 2:01 am

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

In Compensation on December 24, 2009 at 1:01 am

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.