Topic: ESG

— 3485 items —

The very long goodbye…
March 8, 2005—Last month — on Valentine’s Day, no less — Star Gas’ (SGU) largest investor sent a love letter of sorts to Chairman, CEO and President Irik Sevin that called Sevin “one of the most dangerous and incompetent executives in America” and said that he had cost investors over $550 million in value. Yesterday, the company […]

Florida on $7,200 a day…
March 3, 2005—When Dennis Williams steps down as president and CEO of Idex Corp. (IEX) in a few weeks and goes into semi-retirement in Florida, chances are he won’t have to resort to bagging groceries at the local Publix, like many other retirees down there wind up doing. Idex, which announced Williams’ replacement on Monday, has entered […]

Rage against the machine…
February 16, 2005—Why are Checkfree (CKFR) investors so ticked off at Microsoft (MSFT)? Well, at least the Microsoft executive who sits on Checkfree’s board. At Checkfree’s annual meeting back in late October, Checkfree shareholders came close to giving board member Lewis Levin the boot, according to the voting results released in Checkfree’s recent Q. Levin. who is […]

Retire and get a raise…
February 14, 2005—When they retire, most people see a fairly sharp decline in their income. But in some executive suites, retirement means a raise — a 50% raise in the case of one longtime executive at the Chicago Mercantile Exchange (CME) . The CME recently disclosed that when former chairman Leo Melamed steps down at some point […]

Making money ever after…
February 7, 2005—I realize this might be a sensitive subject to some, but should a company that is already paying a hefty premium for a former executive’s life insurance (not to mention his wife’s) also fork over a death benefit when that executive dies? Isn’t that what life insurance is all about? Last week, longtime Cablevision (CVC) […]

Million dollar babies…
February 4, 2005—Monsanto’s (MON) $1.4 billion deal to acquire seed giant Seminis (SMNS) will be very rewarding for three of Seminis’ top executives. Chairman and CEO Alfonso Romo will receive $10.4 million under a separation agreement, which works out to more than 10 times his salary of $950K last year. According to Seminis’ 8-K, the money will […]

Monkey see, monkey do…
February 3, 2005—Remember when you were growing up and your friends did something dopey and your mom would inevitably tell you, “If your friends jumped off a cliff, would you follow them?” At Aon Corp. (AOC) the answer appears to be yes. In a recent 8-K, the company disclosed a new “executive special severance plan” that will […]

Which one is it?
January 26, 2005—While I normally try to stay pretty focused on SEC filings, I found the irony here too difficult to ignore. Sun Microsystems (SUNW) CEO Scott McNealy has been one of the most persistent critics of Sarbanes-Oxley, telling USA Today back in October 2003 that the law was akin to throwing “buckets of sand into the […]

Giving back…
January 19, 2005—Christmas may be over, but buried about halfway through upscale homebuilder Toll Brothers (TOL) recent K is an interesting little note about a change in CEO Robert Toll’s annual bonus. Under a bonus plan put in place in December 2000, the CEO would receive his bonus in shares of the company’s stock at the then-current […]

More time with the family…
January 17, 2005—Does anyone really believe it when a CEO says he wants to spend more time with his family? That the reason Michael Potter, Chairman and CEO of Big Lots (BLI) announced that he was stepping down has nothing to do with the fact that the company blew its fourth quarter earnings estimates big time (old […]