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.
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.
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.
November 20, 2006 |
When KB Home Chief Executive Bruce Karatz retired last week amid a stock option controversy, he agreed to give up $13 million in disputed stock gains. But that doesn't mean he will leave the company empty-handed. Karatz is walking away with as much as $175 million in severance pay, pension benefits and stock options, regulatory filings show.
January 26, 2004 |
Safeway Inc. recently awarded 11 senior and executive vice presidents millions of dollars in stock grants and options under a new compensation plan that is drawing fire from labor leaders and others. The plan came together in the wake of four high-profile corporate defections last year, including that of the chief financial officer, Vasant Prabhu, who left to join Starwood Hotels & Resorts Worldwide.
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.
September 9, 2008 |
Shareholders in Fannie Mae and Freddie Mac saw the value of their stock nearly disappear Monday after the mortgage giants had been taken over by the federal government, but the companies' chief executives will leave after banking millions and taking millions more on the way out the door. Fannie Mae's Daniel Mudd and Freddie Mac's Richard Syron stepped down but are helping with the transition of their companies into federal conservatorship under the Federal Housing Finance Agency.
April 22, 1995 |
They stocked away big stashes of cash for the proverbial rainy day, exceeded profit projections and cut costs. Now these same companies find themselves sitting ducks for takeover artists and other suitors. As Wall Street continues to digest last week's surprise bid for Chrysler Corp., many companies once praised as prudently run are now considered attractive takeover targets.