Matt Steib reports in New York Magazine: 2022 was a rough year for Meta with shares of Mark Zuckerberg’s company dropping 64 percent by the end of December. And so far 2023 isn’t going much better. On Wednesday, European Union regulators determined that Facebook, Instagram, and WhatsApp — all owned by Meta, which is based in Ireland for tax…
Tag: facebook
Can Facebook’s Board Be Honest With Its Shareholders?
From Jason Kint, is the CEO of Digital Content Next, a trade association representing publishers and Kathleen Day, an author and a former Washington Post business reporter who is a now full-time lecturer at Johns Hopkins University’s Carey Business School. Mark Zuckerberg and his fellow board members at Facebook—now calling itself Meta Platforms, Inc.– aren’t doing their job…
Shareholders Press Facebook for Governance Changes – WSJ
Facebook is facing more calls from shareholders to address harm on its platforms and overall governance as the company, now known as Meta Platforms Inc., FB -1.98% responds to pressure from lawmakers and others. Shareholders, including the New York State Common Retirement Fund and Illinois State Treasurer, are among an investor group that collectively filed…
For Facebook and Alphabet, Big-Ticket Fines Cause Limited Pain – WSJ
VEA Vice Chair Nell Minow is quoted in this Wall Street Journal story about whether the penalties Facebook will be paying is enough to discourage further abuses. Financial penalties typically are meant to discourage further misbehavior or make victims whole, said Nell Minow, vice chair of ValueEdge Advisors, a corporate-governance consulting firm for investors.“That second…
FTC’s $5 Billion Fine Alone Won’t Get Facebook Out of Crosshairs – WSJ
“Five billion is literally the cost of doing business,” said Marc Rotenberg, head of the Electronic Privacy Information Center, which has long pushed for greater regulatory scrutiny of Facebook’s privacy practices.“If they get some serious new privacy obligations, that would be interesting. If they got governance reform, that would be interesting. What would not be…
Activists launch campaign to remove Zuckerberg from Facebook board | TheHill
Two activist groups on Monday launched a campaign to oust CEO Mark Zuckerberg from Facebook’s board of directors, arguing his “sweeping” control of the company presents a barrier to civil rights and privacy reform. Digital civil rights group Color of Change and Majority Action, a corporate accountability organization, told the Securities and Exchange Commission that they will be urging Facebook shareholders to…
Surprising Earnings and Summer Movies – Motley Fool Money
VEA Vice Chair Nell Minow talks about dual class stock — and summer movies — on the latest episode of Motley Fool Money. Source: Surprising Earnings and Summer Movies – Motley Fool Money
A huge pension fund says Facebook is like a ‘dictatorship’ – The Washington Post
VEA Vice Chair Nell Minow is quoted in this Washington Post story about institutional investors challenging Facebook’s dual class structure. Nell Minow, vice chair of the governance consulting firm ValueEdge Advisers, said it is not unusual to see several institutional investors slam a company’s practices — especially if there’s a major governance question at stake….
ValueEdge Advisors 