Topic: ESG

— 3485 items —

A nice safety net…
September 10, 2004—Back in May, I wrote a story for Slate about the massive growth of the payday loan business. A growing number of people have come to rely on these loans that typically charge high interest rates, simply because they need the money and don’t have any other place to go. Luckily, the executives who run […]

A wild goose chase…
August 20, 2004—Fannie Mae’s (FNM) Q from last week includes new employment contracts for its top three executives. Given the hefty size of the contracts — Chairman and CEO Franklin Raines’ contract weighs in at 25 pages, enough to warrant a table of contents — when compared with other employment agreements, an investor in Fannie Mae might […]

Not quite off the island…
July 19, 2004—Judging by Pepsico’s (PEP) recent 10-Q, there’s quite a number of shareholders who are ticked off at the board’s compensation committee. Though nobody was voted off the island, shareholders witheld substantially more votes from the five members of the compensation committee than from Pepsisco’s other directors. Compensation committee chairman (and former IBM (IBM) Chairman and […]

One year later…
June 24, 2004—Even though the Wall Street Journal noted that outgoing Coca-Cola (KO) executive Daniel Palumbo, 46, “didn’t live up to expectations” as chief marketing officer, he’s still likely to depart the company better off than when he arrived from Eastman Kodak (EK) a year ago. Under Palumbo’s employment contract, signed June 9, 2003, Palumbo was guaranteed […]

Brothers in arms…
June 21, 2004—When Albert Cozzi and his brother, Frank, were ousted by Metal Management’s (MTLM) board back in January, an article in American Metal Marketnoted they were escorted out of the company’s Chicago offices by security guards. That’s not the type of treatment Albert Cozzi, who had been CEO and a board member of the company that […]

Gold star Fridays…
June 18, 2004—On a day when the New York Times points out in a front page story that the movement to reform corporate governance is losing momentum, I thought it would be nice to bring back Gold Star Fridays. Hard to believe that it’s been about six months since I’ve pointed out something positive buried deep in […]

Flying high…
June 17, 2004—When travel industry technology firm Worldspan Technologies was acquired last year in a $901.5 million deal, several senior executives cleaned up and continue to do well as well-paid consultants, according to Worldspan’s registration statement with the SEC. As a group, Worldspan’s five top executives received $15.85 million under individual change-in-control agreements. Former CEO Paul Blackney […]

Here’s your hat…
June 16, 2004—Something seems a bit fishy about Chairman and CEO Gary Mulloy’s speedy departure from Advo (AD), which the company announced on Monday. For one, he was just re-elected to the board in January. For another, his employment agreement didn’t expire until the end of the year. And the severance agreement, which will provide Mulloy, 58, […]

Option madness…
June 3, 2004—Though it’s hard to get really worked up about a stock that’s trading under a buck, the options madness at Penton Media (PENT.OB), a once high-flying b-to-b media company that now trades on the Nasdaq Bulletin Board, is pretty extreme. Penton’s four top executives received over 90% of the stock options granted to employees last […]

Something to fall back on…
May 25, 2004—Last year, Rite-Aid (RAD) Chairman Robert Miller announced that he was stepping down as CEO, but would remain chairman of the company until the 2005 board meeting. But Rite-Aid’s recent proxy shows that Miller, 60, received the same amount of salary in 2003 — $1.24 million –as he did in 2002, even though he stepped […]