Topic: ESG

— 3485 items —

Free lunch
May 6, 2005—A star (definitely not a gold star) this week goes to Fieldstone Investment Corporation (FICC) and United Online (UNTD) for finding a new way to enrich insiders at the expense of shareholders. FICC has instituted option grants that vest over four years and come with “dividend equivalent rights”. Those rights allow the option holder to […]

An expensive revolving door…
April 19, 2005—Over the past two years, Maxtor (MXO) investors have shelled out more than $10 million to cover the costs of two departing executives. The most recent departure was Paul Tufano, who in November was asked to resign by the board and who, according to the recent proxy, collected over $5 million on his way out […]

Gold-star Fridays…
April 15, 2005—When Google (GOOG) filed its proxy late last Friday, most of the stories focused on how the three founders decided to cut their pay to $1 a year. But since most other execs (and their boards) are unlikely to aggressively lobby to cut their salaries, there is something else they can learn from Google’s proxy: […]

Predators Ball Recalled
April 7, 2005—Fairchild Corp filed a lengthy document last week giving details of a lawsuit involving their long time CEO. Some of you may remember Jeffrey Steiner, who wields a controlling interest in the Company (market cap – $75 million), as a stalwart client of Mike Milken when the company was called Banner Industries. The resolution of […]

Oil and Gas Companies Undervalued?
April 6, 2005—Energy Partners Ltd (Market Cap: $1 billion) and Range Resources (Market Cap: $2 billion) filed executive severance plan descriptions at the end of last week that read as if they are worried about a change in control. Both stocks have more than doubled over the past year, but management may be feeling vulnerable given all […]

Still in hiding…
March 31, 2005—Why is KeySpan Corp. (KSE) continuing to hide the fact that its CFO, Gerald Luterman, is under a formal investigation by the SEC and the US Attorney’s Office for the Southern District of New York over insider trading back in May 2001? Two other companies where Luterman serves on the board — Ikon Office Solutions […]

Is this anything?
March 22, 2005—Last year, ITT Industries’ (ITT) board of directors approved a $1 million retention bonus for CFO Edward Williams when he will presumably step down from the job next January. But the company didn’t bother to include the agreement that was dated February 5, 2004 until the K that it filed on March 11, 2005. Why […]

More than an in-law, a business partner too…
March 15, 2005—Let’s hope that Gary Tepas, CEO of EmKay Leasing gave his brother-in-law a generous Christmas present last year. After all, Graco (GGG) the publicly traded company where David Roberts serves as president and CEO sharply increased its business dealings with privately-held EmKay last year. In its recent proxy, Graco said that it had paid EmKay […]

Gold star Fridays…
March 11, 2005—Have the folks at Weyerhauser (WY) started drinking the corporate governance Kool-Aid? The company, which has never really been known for being investor-friendly (and has lots of shareholder initiatives over the years to prove it), appears to have instituted a new policy for its top executives that takes away the keys to the Gulfstream and […]

Waiting…
March 9, 2005—When International Displayworks (IDWK) announced back in September that it was hiring Intel (INTC) executive Thomas Lacey as its new CEO, the stock, which had been trading at under $5 on the bulletin boards, suddenly perked up, which turned into very good news for Lacey, 46, since he had received 1 million options at $3.85 […]