Murdochs Dodge $82 Million Suit Over $72 Billion Disney-Fox Deal

Billionaire media mogul Rupert Murdoch and his sons don’t have to face a shareholder challenge to the $82.4 million in bonuses they got when selling Fox’s film and TV assets to Walt Disney Co. for $71.6 billion, a Delaware judge ruled Friday. “The critical deficiency in the complaint is the lack of any factual allegations…

Society isn’t working: Larry Summers

Larry Summers has been wrong about so many things over so many years (remember how he prevented Brooksley Born from even inviting comment on the regulation of the sub-prime securities that caused the financial crisis when he was Secretary of the Treasury.). Here he is wrong again in saying that a lack of confidence and…

How McKinsey helps companies avoid responsibility.

McKinsey started as a business that sold candid, dispassionate advice to corporate managers, but selling advice and building a brand around it also sets up a mechanism for diffusing responsibility. The managers can say they’re just following the best available advice, and the consultants can say they’re just trying to help their clients boost profits…

Dark Money: It’s Time for Boards and Institutional Investors to Act on Racial Justice

Bruce Freed of The Center for Political Accountability and Eleanor Bloxham of The Value Alliance have an important op-ed in Barron’s about the long-standing opposition of the Big 3 institutional investors – BlackRock, Vanguard and Fidelity — to shareholder resolutions calling for disclosure of political disclosure and the connection to corporate political spending that has…

Key ESG Themes in a Post-COVID-19 World — Barclays

Barclays predicts the acceleration and standardization of ESG investing and operations due to the impact of COVID-19. Highlight those companies committed to high ESG standards Accelerate sustainability trends like remote schooling and reduced travel Encourage governments to ‘green’ the recovery – e.g. ESG-contingent bailouts Digitize shareholder engagement – e.g. virtual Annual General Meetings The 2400…

Congress And Nasdaq Propose Rules That May Result In Delisting Of Chinese Companies – Corporate/Commercial Law – United States

Congress and The Nasdaq Stock Market have both proposed rules that may result in the delisting of Chinese companies. On May 20, 2020, the Senate passed by unanimous consent S. 945, the Holding Foreign Companies Accountable Act, which would prohibit securities of a company from being listed on any U.S. securities exchange or traded “over-the-counter”…