October 5, 2012 |
The chairman and three directors of troubled teen retailer Wet Seal Inc. are leaving and will be replaced by nominees from an activist shareholder that had been fighting to remake the board. The Foothill Ranch retailer, which operates about 550 stores under the Wet Seal and Arden B. brands, said Friday that Chairman Hal Kahn and board members Jonathan Duskin, Sidney Horn and Henry Winterstern have resigned. That concludes an ongoing struggle with investor group Clinton Group, a private equity firm that holds a nearly 7% stake in the company.
August 23, 2012 |
Ghastly events unfold in the taut and unsettling "Compliance," propelled by a logic so twisted it feels like the premise of a psychological experiment. Wielding only a prepaid phone, an aberrant compulsion and a false identity, a man holds a group of strangers in his sway by remote control, with devastating results. Writer-director Craig Zobel has shaped his material not as a shocker but as a clear-eyed exploration of some of the darkest, and most garden-variety, mysteries of human behavior.
August 7, 2012 |
BEIRUT - Iran's top security official on Tuesday reaffirmed Tehran's support for Syrian President Bashar Assad as the United States warned of a potential proxy war in Syria and an influx of terrorists to the strife-torn nation. Iran's security chief, Saeed Jalili, met in Damascus with Assad, who appeared on state television for the first time in two weeks. His absence had spurred rumors that Assad may have left the Syrian capital amid soaring violence and after a bombing last month killed four of his top aides.
May 7, 2012 |
WASHINGTON - As lawmakers return to the Capitol this week, Congress will launch into a summer of political gamesmanship that will turn floor fights into proxy battles for the presidential campaign. The votes will do little to resolve crucial issues facing the country. But they will establish themes that help define President Obama and his Republican challenger, Mitt Romney, in the minds of voters. Democrats will seek to portray Republicans as protecting the wealthy at the expense of the middle class.
March 26, 2012 |
Yahoo Inc., in an attempt to “reshape and refocus” itself, appointed three new independent directors to its board, including a top executive from American Express Co. But the move isn't passing muster with activist investor Daniel Loeb, who plans to launch a proxy battle unless he's personally appointed to the board. The fight will be costly and a “distraction,” executives at the Internet company said in a statement Sunday after naming as board members John D. Hayes, AmEx's executive vice president; Peter Liguori, former chief operating officer of Discovery Communications Inc.; and Thomas J. McInerney, the outgoing chief financial officer of IAC/InterActive Corp.
March 2, 2012 |
An influential proxy advisor criticized Walt Disney Co.'s board of directors for naming Chief Executive Robert A. Iger as the company's next chairman, a decision that it claims "reversed a commitment to independent board leadership. " Disney disputed Institutional Shareholder Services' contention in a regulatory filing Thursday, calling it "false — no such commitment was made. " The matter of an independent board chairman dates from a contentious period of the company's history, in early 2004, when 45% of Disney's shareholders heeded the late Roy E. Disney's call to cast a vote of no confidence in then-Chairman and Chief Executive Michael D. Eisner.