December 5, 2001 |
An increasing number of the 500 largest U.S. companies have appointed women as board directors over the last nine years, a report released Tuesday said, but the progress of change has slowed to a near-glacial pace. Fortune 500 companies with female board members have risen 25.8% since Catalyst, a nonprofit research group, ran its first census on the subject in 1993. But from 1997 to the present, companies with female board members rose by only 3.6%, compared with a 21.
August 30, 2005 |
For corporate directors, there's an upside to all their extra headaches in the post-Enron world: more money. The median pay for directors at large U.S. companies jumped 18% in 2004, said a study issued Monday by Mercer Human Resource Consulting. The median compensation rose to about $155,000, from $132,000 in 2003, according to Mercer's review of regulatory filings by 350 companies with annual revenues topping $1 billion.
March 23, 2005 |
French lawmakers voted to essentially dismantle the nation's 35-hour workweek, opening the door for companies to increase employees' working time in exchange for better pay. Nearly a million people joined strikes and demonstrations this month to defend the 35-hour week and protest other perceived threats to their working conditions and pay.
September 14, 2005 |
An appeals court panel Tuesday denied the U.S. Chamber of Commerce's request for a rehearing on whether the Securities and Exchange Commission was justified in amending its rules to impose the independent chair provision. The U.S. Court of Appeals for the District of Columbia ruled against the chamber on the justification issue in its lawsuit opposing the provision requiring that the chairman of a mutual fund board and 75% of its directors must be independent.
August 13, 2002 |
J.P. Morgan Chase & Co., American Express Co., MetLife Inc. and Bank of America Corp. will begin expensing stock options next year, joining a growing list of financial institutions, insurance firms and manufacturers adopting the practice. The move at J.P. Morgan was outlined in a memorandum to the bank's employees from Chairman and Chief Executive William B. Harrison Jr. The memo was made public Monday by the bank.
August 13, 2002 |
Financial officials of more than a dozen states met in New York on Monday to reiterate their pledge to pressure Wall Street and corporate America to reform some of their most controversial business practices. The officials, including the comptroller of New York and the treasurers of California and North Carolina, said they will try to force investment banks to reduce stock-analyst conflicts of interest and will pressure other types of companies to improve corporate-governance procedures.
August 8, 2002 |
Most Americans doubt new laws to reform corporate America will clean up the kind of corruption and fraud that has dominated newspaper headlines this year, according to a survey. A Columbia Law School poll of 1,000 people found 52% of Americans think that the Sarbanes-Oxley bill, which stiffens criminal penalties for corrupt executives and calls for an independent accounting oversight board, won't stem the wave of corporate scandals.
August 8, 2002 |
President Bush came here Wednesday to express his sympathy for the thousands of Mississippians who lost their jobs and their savings because of WorldCom Inc., the telecommunications giant headquartered nearby that filed for bankruptcy last month amid accusations that its executives defrauded investors. "You know what it means to be let down by shady corporate practices," he told 1,000 flag-waving, foot-stamping people packed to the rafters in a sweltering high school gym.
August 17, 2002 |
Debt-laden cable giant Charter Communications Inc. said it has received a federal grand jury subpoena demanding information on the company's accounting practices. St. Louis-based Charter, controlled by billionaire Paul Allen, said the subpoena seeks documents about how the company accounts for various costs for current and disconnected cable TV customers. Charter said it intends to cooperate in the probe, which was initiated by the U.S. attorney's office for the Eastern District of Missouri.
August 28, 2002 |
Mutual fund companies will be required to certify their portfolios' financial results, just as corporate executives certify their companies' results, the Securities and Exchange Commission decided Tuesday.