October 17, 2012 |
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.
April 10, 2004 |
A rule's a rule, for saints and sinners alike. That's why Institutional Shareholder Services, which advises big investors such as pension funds on corporate governance issues, says it is urging Coca-Cola Co. shareholders to withhold their votes from billionaire investor Warren E. Buffett for reelection to Coke's board of directors. The issue comes to a vote at the Coca-Cola annual shareholders meeting April 21 in Wilmington, Del. Buffett, who owns 8.
February 11, 2002 |
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.
July 27, 1997 |
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.
November 9, 2007 |
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.
February 15, 1985 |
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.
January 23, 2007 |
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.
September 28, 2007 |
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.
March 5, 2004 |
The pressure on the board of Walt Disney Co. continued to grow Thursday as public and private pension fund managers chastised the company's directors for standing by Michael Eisner. The board's decision to keep Eisner in the chief executive job -- after stockholders at the annual meeting here delivered one of the harshest snubs ever to a CEO -- was roundly criticized.
December 6, 2004 |
Like a gang of schoolyard bullies, business leaders nationwide are gloating over the ouster of CalPERS President Sean Harrigan, as though they want to claim credit for hanging his pelt on the wall. The U.S. Chamber of Commerce, for example, cynically praised the removal of Harrigan, who had become one of the country's leading spokesmen for shareholder rights, as providing "hope for California retirees and shareholders."