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Council Of Institutional Investors

NEWS
October 17, 2012 | By Joseph Tanfani
WASHINGTON - For months, the Obama campaign has been pounding Mitt Romney for his offshore holdings and his investments in companies that send jobs overseas. So when the subject came up during Tuesday's debate, Romney was eager to call out the president for doing the same thing. “Let me give you some advice - look at your pension,” Romney told Obama. “You also have investments in Chinese companies … You also have investments through a Caymans trust, all right?” Romney was correct, but it's difficult to draw comparisons between the two politicians' retirement accounts.
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BUSINESS
July 23, 2011 | By Jim Puzzanghera, Los Angeles Times
A federal appeals court invalidated a controversial Securities and Exchange Commission rule that made it easier for shareholders to force out company directors. Acting on a suit by business groups, a three-judge panel of the U.S. Court of Appeals for the District of Columbia unanimously tossed out the rule Friday. The judges said the SEC did not adequately consider the rule's effect on companies. The rule let large shareholders place their board nominees on company-mailed proxy ballots along with the management's preferred candidates instead of being required to spend the money to send out separate ballots.
NEWS
February 11, 2002 | RONALD BROWNSTEIN
After Enron, the accounting and securities industries are in the same uncomfortable position as the airlines after Sept. 11. To reassure fliers wary of the skies after the terrorist hijackings, the airline industry had to accept a long list of federal safety regulations it had long grounded. Likewise, to lure back investors fearful of more Enron-like accounting scandals, the investment industries may now have to accept new federal investor protections they have long blocked.
BUSINESS
July 27, 1997 | SHARON WALSH, WASHINGTON POST
When Philadelphia lawyers sued directors of Archer-Daniels-Midland Co. last year for their role in a huge price-fixing scandal, they said they were striking a blow for the company's shareholders. ADM settled the suit recently for $8 million. But guess who gets the money? Not the shareholders, but the lawyers. "It's a classic case of lawyer greed," said Mark C. Hansen, an attorney for institutional shareholders protesting the settlement.
BUSINESS
November 9, 2007 | Kathy M. Kristof and E. Scott Reckard, Times Staff Writers
Two groups representing union pension funds turned their sights on Countrywide Financial Corp.'s directors Thursday, saying board members failed to curb what they called excessive compensation for Chairman and Chief Executive Angelo Mozilo.
BUSINESS
February 15, 1985 | MICHAEL A. HILTZIK, Times Staff Writer
Financier Carl Icahn said Thursday that if shareholders join him in rejecting a refinancing plan for Phillips Petroleum Co. next week, he will attempt to have the company sold to an employee group or another bidder "at a fair price" after first unseating the board of directors. "I'm not going away under any conditions," he said, adding that he would hold his stock--currently 7.5 million shares, or 4.
BUSINESS
April 30, 1993 | From Associated Press
Shareholder activist Ralph Whitworth chuckles when people call him the Ross Perot of investor rights. While the maverick Texas billionaire has been making political headlines, Whitworth, 37, has been holding corporate feet to the fire on issues like executive pay packages and boards of directors dominated by management. Through a combination of persuasion and doggedness, Whitworth, president of the United Shareholders Assn.
BUSINESS
July 27, 2005 | Joseph Menn, Times Staff Writer
Silicon Valley lost its best hope to avoid treating stock options as a formal expense, when the man poised to become the nation's new securities chief said Tuesday that he would support the accounting shift. While Rep. Christopher Cox tried to beat back the options change in Congress, he told a Senate committee weighing his nomination as Securities and Exchange Commission chairman that the agency should make sure "that the rule is implemented as the markets expect."
BUSINESS
January 23, 2007 | Jonathan Peterson, Times Staff Writer
The Securities and Exchange Commission Monday said it would not intervene in a dispute over board election rules at Hewlett-Packard Co. and signaled that a clear policy governing director nomination contests probably would not be implemented until the 2008 season of corporate meetings. The announcement underscored the difficulties faced by the SEC and its chairman, Christopher Cox, in achieving consensus on a plan to give shareholders a greater voice in the corporate election process.
BUSINESS
September 28, 2007 | Jonathan Peterson, Times Staff Writer
Shareholder activists Thursday blasted proposals by the Securities and Exchange Commission affecting investor rights in corporate elections, suggesting the agency's approach would not resolve a long-smoldering dispute. "I think this is a case where more work needs to be done," Rep. Barney Frank (D-Mass.), chairman of the House Committee on Financial Services, said after a hearing on the matter.
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