The National Association of Corporate Directors reports the median pay of a Fortune 200 director at $228,058, a tidy sum although not nearly enough if a derivative suit is filed against the board. NACD does not report on any relationship … Continue reading
Stephen Honig
Public companies are required by Sarbanes Oxley to avoid adverse employment action against employees who in good faith suggest that certain laws are being violated by their employer. The enforcement of anti-retaliation protections rests in a Review Board of the … Continue reading
Today I write about the breakdown of the American social compact. The Congress cannot engage in dialog on important issues. We do not speak to each other, we do not listen. Republicans stonewall. The President campaigns rather than inspires a … Continue reading
At this morning’s meeting of the New England Chapter of the National Association of Corporate Directors, the panel of senior board members counseled a level of board activism that is at odds with the common wisdom that directors should set … Continue reading
On this morning’s drive in, radio said Big Papi is looking to NY Yankees, is tired of the “drama” in Boston. Is that a plausible excuse for jumping for the money? Is it better than Roger’s? How about Damon’s? It … Continue reading
There seems to be some confusion about what has happened to the movement to compel public companies to place shareholder nominees on the ballot for directorships. Let me try to sort out the state of play: 1. Federal nomination rule defeated: … Continue reading
The SEC has mandated public companies to vote at least every three years on executive comp; shareholders must take a nonbinding (advisory) vote on whether they approve comp levels and golden parachutes. The idea is, no doubt, to pressure the board … Continue reading
Cashman (nervously): So, Georgie ,did you happen to catch the game last night? Young Steinbrenner (annoyed): What, are kidding or something? And don’t call me Georgie. Cashman (slightly abashed): We didn’t look too good, did we? Young Steinbrenner (coldly): That’s … Continue reading
When I was an up-and-coming lawyer I moved my young family to the top of Belmont Hill, a pretty fancy address with big lawns and big mortgages. It was then that I started to have “the nightmare” that sometimes even … Continue reading
What’s wrong with the economy? Why is the US in such a sorry state? Why don’t banks lend more freely? What is the prognosis? These matters, as well as principles of corporate governance, were explored at this morning’s meeting of … Continue reading