Tag: corporate governance
Henry Ford III Is Rising to Top of Dynasty in Deep Trouble
VEA Vice Chair Nell Minow is quoted about the corporate governance concerns relating to family control of Ford Mother Company. The arrangement once again came under scrutiny at the annual meeting. A shareholder proposal to strip the family of its special class of stock and go to a one-share, one-vote arrangement garnered 35% support, up…
Nell Minow and Peggy Foran on Corporate Governance, ESG, and What Comes Next
VEA Vice Chair Nell Minow appeared on NPR’s On Point program with Prudential’s Peggy Foran to talk about corporate governance today, what’s better and what’s not, ESG, and what comes next.
AT&T Sneaks Away Voting Rights With Coercive Buyback/Exchange Offer
We’ve got a sense of deja vu here. Back in the early 80’s companies tried to get the NYSE to approve coercive exchange offers of non- or limited-voting stock with a slightly higher return for shares with voting rights. We note that there is already such a security available for anyone who wants to buy…
New Paper: Asset Management, Index Funds, and Theories of Corporate Control
Matthew J. Mallow’s new paper on index funds: This paper seeks to ground the debate around asset managers, index funds and corporate control firmly in the practical context of the operation and regulation of asset managers. Acting on be- half of clients, asset managers are incentivized to monitor companies for long-term performance. As minority shareholders,…
Larker and Tayan Re-Discover the Governance Wheel
Stanford’s David F. Larcker and Brian Tayan have a new paper called Loosey-Goosey Governance: Four Misunderstood Terms in Corporate Governance in which they appear to think they’ve discovered what everyone has understood forever — that there are limits to structural solutions and that checklists of best practices are not especially helpful. We were very clear…
VEA Vice Chair Nell Minow on Motley Fool Money: We Work, McDonald’s, and More
VEA Vice Chair Nell Minow appeared on Motley Fool Money to talk about current issues in corporate governance including We Work and a wave of CEO departures.
Interview With Ira Millstein — WSJ
One of the founding fathers and true visionaries of modern corporate governance is Ira Millstein. The WSJ asked him for his thoughts on the BRT’s stakeholder statement (he says it is not specific enough) and on the state of corporate governance today. An excerpt: In 1979, the Business Roundtable conducted a series of hearings and…
WeWork founder Adam Neumann’s $1.7 billion payout from Softbank is unprecedented – Vox
VEA Vice Chair Nell Minow is quoted about the astounding payout to ex-We Work CEO Adam Neumann — $1.7 billion for his stock plus $185 million for consulting services AND a $500 million credit line. “He basically said, ‘This is what I need in order to leave,’ and they’re finding different ways to categorize that…
WeWork IPO Struggles with Valuation and Governance Concerns
Since We filed the prospectus for its initial public offering last month, it has been besieged with criticism over its governance, business model and ability to turn a profit. It is now expecting an IPO valuation as low as a third of the $47 billion sticker price it garnered in a January funding round—a drop…
