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OPINION
September 2, 2012 | By Lynn Stout
Over the last three decades, public companies have shifted their focus from promoting long-term growth to maximizing "shareholder value" (a euphemism for share price) in the short term. And the federal government has embraced this religion. In 1993, Congress changed the tax code to require companies to link executive pay to "performance" (typically stock price). The Securities and Exchange Commission over the last two decades has adopted rules to make corporate directors ever more "accountable" to shareholders.
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BUSINESS
April 10, 2014 | By Ricardo Lopez
The fight between activist investor Carl Icahn and eBay Inc. has been settled as the two sides have quietly reached a truce, Ebay said Thursday. The two had been embroiled in a public spat over accusations by Icahn that two members of eBay's  board of directors had conflicts of interest and that the company had failed to get the full value for Skype, a video chat service, when it was sold.  Icahn also urged eBay to sell a minority stake in...
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BUSINESS
February 5, 2008 | From Times Wire Services
Sun-Times Media Group Inc., parent of the Chicago Sun-Times, put the city's second-largest daily and "any or all" of the company's assets up for sale amid a crippling decline in advertising and revenue at its newspapers. The company said its board of directors also was looking at other ways to increase shareholder value, including joint ventures or partnerships.
OPINION
September 2, 2012 | By Lynn Stout
Over the last three decades, public companies have shifted their focus from promoting long-term growth to maximizing "shareholder value" (a euphemism for share price) in the short term. And the federal government has embraced this religion. In 1993, Congress changed the tax code to require companies to link executive pay to "performance" (typically stock price). The Securities and Exchange Commission over the last two decades has adopted rules to make corporate directors ever more "accountable" to shareholders.
BUSINESS
May 8, 1989
Farah in Takeover Talks: Farah Inc., a maker of jeans and popular sportswear, said it is in substantive talks to sell the company in a deal worth at least $69 million. Farah, which makes clothes under its own and the Generra label, gave no other details. A full buyout of Farah would value the company at $69 million based on its stock price of $11.25 Friday. The El Paso-based company said it and investment bank Wertheim Schroder are reviewing transactions to maximize shareholder value.
BUSINESS
April 10, 2014 | By Ricardo Lopez
The fight between activist investor Carl Icahn and eBay Inc. has been settled as the two sides have quietly reached a truce, Ebay said Thursday. The two had been embroiled in a public spat over accusations by Icahn that two members of eBay's  board of directors had conflicts of interest and that the company had failed to get the full value for Skype, a video chat service, when it was sold.  Icahn also urged eBay to sell a minority stake in...
BUSINESS
March 11, 2012 | By Andrew Hill
You can probably work out what you will think of the new book, "Standing on the Sun: How the Explosion of Capitalism Abroad Will Change Business Everywhere" by gauging your reaction to this passage on the future of capitalism: "Firms that want to be part of fruitful collaboration will start behaving generously. And as a result, they'll attract generous partners. " Naive idealism or visionary insight? If you think it sounds like the former, prepare to be enraged; if the latter, to be enchanted.
BUSINESS
May 5, 2012 | By Michelle Maltais, Los Angeles Times
An activist investor is demanding thatYahoo Inc.fire its new chief executive, Scott Thompson, after the Internet company confirmed that his resume contained misleading information about his education. The Sunnyvale, Calif., company confirmed Thursday that Thompson's credentials, questioned recently by a shareholder, incorrectly stated in a recent filing with the Securities and Exchange Commission that he holds a bachelor's degree in computer science from Stonehill College. The company called it an "inadvertent error.
BUSINESS
April 9, 2012 | By Michelle Maltais
AOL's surprising sale of 800 patents to Microsoft for about $1.06 billion gives the company a cash infusion that Wall Street seems to like. Although neither company is saying what the patents cover, what Microsoft actually bought was leverage. "Patents are nothing but a license to sue," to exclude others, said Alexander Poltorak, chairman and chief executive of General Patent Corp. A license to sue, but an opportunity to strike a deal. "Only [between] 3 and 4% of patent lawsuits end up in trial," with most ending up in an arrangement beneficial to both companies, he said.
BUSINESS
March 31, 1998 | WALTER HAMILTON, TIMES STAFF WRITER
Parlez-vous capitalism? In Paris--not to mention Bonn, Rome and Madrid--the answer these days is a resounding yes. And for foreign-stock mutual funds, that translated into great gains in the first quarter. The average foreign stock fund tracked by Morningstar Inc. climbed 16.2% from Jan. 1 through last Friday, outdistancing even the robust gains in the U.S. stock market.
BUSINESS
May 5, 2012 | By Michelle Maltais, Los Angeles Times
An activist investor is demanding thatYahoo Inc.fire its new chief executive, Scott Thompson, after the Internet company confirmed that his resume contained misleading information about his education. The Sunnyvale, Calif., company confirmed Thursday that Thompson's credentials, questioned recently by a shareholder, incorrectly stated in a recent filing with the Securities and Exchange Commission that he holds a bachelor's degree in computer science from Stonehill College. The company called it an "inadvertent error.
BUSINESS
April 9, 2012 | By Michelle Maltais
AOL's surprising sale of 800 patents to Microsoft for about $1.06 billion gives the company a cash infusion that Wall Street seems to like. Although neither company is saying what the patents cover, what Microsoft actually bought was leverage. "Patents are nothing but a license to sue," to exclude others, said Alexander Poltorak, chairman and chief executive of General Patent Corp. A license to sue, but an opportunity to strike a deal. "Only [between] 3 and 4% of patent lawsuits end up in trial," with most ending up in an arrangement beneficial to both companies, he said.
BUSINESS
March 11, 2012 | By Andrew Hill
You can probably work out what you will think of the new book, "Standing on the Sun: How the Explosion of Capitalism Abroad Will Change Business Everywhere" by gauging your reaction to this passage on the future of capitalism: "Firms that want to be part of fruitful collaboration will start behaving generously. And as a result, they'll attract generous partners. " Naive idealism or visionary insight? If you think it sounds like the former, prepare to be enraged; if the latter, to be enchanted.
BUSINESS
March 16, 2011 | Bloomberg News
Morton's Restaurant Group Inc., the Chicago-based upscale steakhouse chain, said it was exploring strategic alternatives to boost shareholders' value, including a potential sale of the company. Morton's, created in 1978 by Arnie Morton and Klaus Fritsch, has the support of Castle Harlan Inc. and Laurel Crown Partners, its two largest shareholders, and retained Jefferies & Co. as a financial advisor, the company said. Sales started rising again last year after two years of declines during the recession as diners reduced spending on high-end restaurants.
BUSINESS
July 9, 2008 | E. Scott Reckard and Andrea Chang, Times Staff Writers
A day after IndyMac Bancorp's decision to sharply curb its lending and lay off 3,800 employees, the mortgage company's shares tumbled toward oblivion Tuesday, with at least two analysts warning that no value remained for shareholders. IndyMac, which specialized during the housing boom in loans for borrowers who didn't document their incomes, has been inundated by defaults. It announced after the stock market closed Monday that regulators no longer considered it well capitalized.
BUSINESS
February 5, 2008 | From Times Wire Services
Sun-Times Media Group Inc., parent of the Chicago Sun-Times, put the city's second-largest daily and "any or all" of the company's assets up for sale amid a crippling decline in advertising and revenue at its newspapers. The company said its board of directors also was looking at other ways to increase shareholder value, including joint ventures or partnerships.
BUSINESS
February 19, 1996 | TOM PETRUNO
Two weeks ago the state's giant CalPERS pension fund announced its annual "hit list," 10 American companies whose stocks have been such dogs that the fund intends to bully them into action "to enhance performance for the benefit . . . of all shareholders."
BUSINESS
March 11, 2002 | From Bloomberg News
Ontario Teachers' Pension Plan said it will vote its Hewlett-Packard Co. shares against the computer maker's proposed $22-billion acquisition of Compaq Computer Corp. because it believes the union would hurt shareholder value. The proposed transaction lacks merit and would increase HP's exposure to a "troubled PC hardware business," the fund, which owns 1.46 million HP shares, said in a statement Sunday.
BUSINESS
March 11, 2002 | From Bloomberg News
Ontario Teachers' Pension Plan said it will vote its Hewlett-Packard Co. shares against the computer maker's proposed $22-billion acquisition of Compaq Computer Corp. because it believes the union would hurt shareholder value. The proposed transaction lacks merit and would increase HP's exposure to a "troubled PC hardware business," the fund, which owns 1.46 million HP shares, said in a statement Sunday.
BUSINESS
December 17, 2001 | From Times Staff and Wire Reports
Setting up what could become a hostile takeover battle, P&O Princess Cruises on Sunday rejected an unsolicited $4.6-billion offer from industry leader Carnival Cruise Lines Inc. The bid appeared to be an attempt by Miami-based Carnival to thwart the pending merger of P&O and Royal Caribbean Cruises Ltd., which would create the world's largest cruise company. P&O is the parent of Princess Cruises, its North American line based in Santa Clarita.
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