NY Times Editorial: Time to Treat White Collar Criminals Like…Criminals

There’s a novel thought: enforcing laws on white collar crime.Take the extensive money laundering Mr. Manafort is accused of undertaking with shell companies that hide ownership. How could he have expected to get away with it? Perhaps he saw what happened when one of the world’s largest banks, HSBC, helped launder billions of dollars in…

Corporate Boards Are Looking for CEOs Who Aren’t Old White Men – Bloomberg

A growing number of companies, including Tyson, Republic Services, Foot Locker, and Best Buy, are eschewing traditional board candidates—retired chief executive officers, who are overwhelmingly older white men—and opting for diverse members, many of them first-timers with no experience.In 2017, 45 percent of appointees to the boards of S&P 500 companies were novice directors, the…

No Gender Gap in CEO Compensation

So, female CEOs are just as overpaid as male CEOs — not surprising, going back to one of the most overpaid CEOs in history, Linda Wachner at Warnaco. The bigger problem is that there is no evidence that female CEOs are better at company-wide pay equity than the men. Our results reveal that there is…

Avenue Capital to launch ‘impact’ investment fund, source says

Avenue Capital Group LLC, a New York-based investment firm with $9.4 billion in assets under management, plans to launch a fund this year that will focus on so-called impact credit investments, according to a person familiar with the matter.The Avenue fund will primarily make debt investments, along with some equity, in North American companies, the…

Disclosure Is About Risks And Opportunities, Not Politics

Felicia Jackson writes in Forbes: Climate and environmental information reporting is becoming mainstream. The focus on risk disclosure means it doesn’t matter whether you believe in climate change or not – what matters is transparency about corporate risk.As Richard Samans, Chairman, CDSB and Managing Director, Head of Policy and Institutional Impact at the World Economic…

Surprise! Comp Consultants Think CEO Pay is Just Fine

CEO compensation consultants Ira Kay, John Ellerman, and Sarah Blivens make the best arguments they can to support the current system of CEO pay in their firm’s newsletter. We believe that CEO compensation is a major competitive advantage for U.S. companies due to our own and extensive academic research, our decades of consulting with thousands…

The Libertarian Who Accidentally Helped Make the Case for Regulation

When [Alex] Tabarrok and his former grad student Nathan Goldschlag set out to measure how federal regulations impact business growth, they were sure they’d find proof that regulations were dragging down the economy. But they didn’t. No matter how they sliced the data, they could find no evidence that federal regulation was bad for business….

Pension Fund Charges Netflix With Rigging Executive Bonuses

A federal lawsuit filed in the US District Court in San Francisco accuses Netflix of giving undeserved “sham” bonuses to top executives so that the company could take advantage of a prior tax loophole. The pension fund lawsuit was filed by the City of Birmingham Relief and Retirement System, one of the company’s shareholders. The…