Topic: ESG

— 3485 items —

Mortal payout!
May 17, 2004—When Neil Nicastro stepped down last May as CEO of Midway Games (MWY) , the company, which makes popular video games including Mortal Kombat, wasn’t exactly on a winning streak. The stock was trading around $2, the company had missed revenue estimates by a mile, CALPERs was targeting the company for having lax board oversight, […]

A director’s goodie bag…
May 12, 2004—Many companies routinely give their board members discounts of freebies. After all, it can be a great way to give a board member the customer’s eye-view of the business, say by having them wheel bags of mulch through the checkout line at Home Depot (HD) on a Saturday in May. For the most part, these […]

A modest allowance…
May 11, 2004—When American Financial Group (AFG) announced last April that co-president Keith Lindner would be stepping down at the end of June, they forgot to mention that he would still be on the company payroll for the next five years. But in the Q filed last week, the company includes Lindner’s “salary continuation agreement” which will […]

Shareholder revolt at Staples?
May 6, 2004—Investors in Staples (SPLS), the large office supply chain, are staging a revolt, judging from the proxy released yesterday. Four different shareholder proposals — two of which focus on eliminating the poison pill, a notoriously investor unfriendly practice — take aim at the board of directors. The other two proposals deal with excessive compensation — […]

A toast to turning 40…
May 5, 2004—When Gartner (IT) announced last week that Chairman and CEO Michael Fleisher would be stepping down, it didn’t provide many details on his exit package. But in both the Q and the proxy, it’s clear that Fleisher, 39, will have many reasons to toast his upcoming 40th birthday. Four million reasons, though it’s actually more […]

A Hollywood ending…
April 29, 2004—Even by Hollywood standards, the $3 million severance payment that John Farrand, former CEO of Panavision (PVIS.OB) received seems a tad bit excessive, given that it was on Farrand’s watch that the stock was kicked off the New York Stock Exchange and now trades on the decidedly less prestigious Nasdaq Bulletin Board. Panavision, which makes […]

A lucrative exit strategy…
April 27, 2004—When Thomas Edelman stepped down as Chairman of Range Resources (RRC) , a Ft. Worth-based oil and gas exploration company last May, he received a lucrative three-year consulting contract. For $50,000 a month, Edelman is required to provide “no more than an average of 20 hours per week in any calendar quarter”. That’s about 70% […]

A fresh start…
April 23, 2004—MCI (MCIAV.PK) , the company formerly known as Worldcom which perpetrated a huge fraud on investors, emerged from bankruptcy on Tuesday. The company is now trying to make a fresh start, though it will obviously be a long time before investors regain their trust. Still, there is one hopeful sign buried deep in their SEC […]

Better than a weekend tummy tuck…
April 19, 2004—Inamed (IMDC) , a company I first wrote about 4 years ago back at Crain’s New York Business, has done well by its shareholders, largely because its products, which focus on plastic surgery and obesity, have been in hot demand. But something in Inamed’s proxy, filed earlier today, shows that breasts aren’t the only things […]

Skip work, more pay!
April 6, 2004—Imagine how your boss might feel about you only showing up to work 25% of the time. How long do you think you’d be able to keep that job before being booted out the door? My guess is not very long. Former U.N. Ambassador Richard C. Holbrooke, who’s on the board at Quebecor World (IQW) […]