Jamie Dimon and the 10 other directors of JPMorgan Chase take the stage in Tampa, Fla., on Tuesday, to face shareholders who can take comfort in a rising stock price and a prospering bank. But those same shareholders may also deliver a humbling rebuff to Dimon and the board.
Gwailo submits:Part 3: Whose Best Interests?In Part 1 we saw how SWZ's mediocre performance and persistent discount inspired a shareholder proxy proposal for the upcoming June 16 meeting that asks the Board to adopt an "interval fund" structure.
Aon Corporation (AON)
May 17, 2013 3:00 am ET
Lester B. Knight - Non-Executive Chairman, Chairman of Executive Committee and Chairman of Governance/Nominating Committee
Ram Padmanabhan - Chief Counsel of Corporate, Vice President and Corporate Secretary
Gregory C. Case - Chief Executive Officer, President, Executive Director and Member of Executive Committee
Christa Davies - Chief Financial Officer and Executive Vice President
Editor’s Note: James C. Morphy is a partner at Sullivan & Cromwell LLP specializing in mergers & acquisitions and corporate governance. The following post is based on a Sullivan & Cromwell publication.
On February 22, 2013, the United States District Court for the Southern District of New York enjoined Apple, Inc.
On Halloween, infamous corporate raider Carl Icahn showed up on Netflix’ doorstep with something designed to truly frighten those in charge of the troubled DVD-and-streaming-video giant: an announcement that he’d taken a nearly 10% share in the company, the opening move in a possible hostile takeover — or at least some sort of big shakeup — that would likely leave a lot of the current execs looking for new jobs.
The question is whether the arrival of activists with their emphasis on capital discipline, and the removal of the buccaneering entrepreneurs, will reduce the rate of innovation and harm the long-term outlook for U.S. oil and gas production
Editor’s Note: The following post comes to us from Klaus J. Hopt, a professor and director (emeritus) at the Max-Planck-Institute for Comparative and International Private Law, in Hamburg and was advisor inter alia for the European Commission, the German legislator and the Ministries of Finance and of Justice.
Banks are special, so is corporate governance of banks.
Grant Sawiak is a partner at Fogler Rubinoff and a former staffer at the TSX who recently successfully advised a group of dissidents at Continental Precious Minerals Inc., a small mining company with an operation in Sweden.
Sawiak’s involvement in Continental’s proxy battle – which now has a new team of directors that doesn’t include the chief executive – gave him a first-hand look at corporate governance in the junior mining sector, a sector that’s home to thousands of companies which, in market cap terms, is typical of much of corporate Canada.
Ravi Nagarajan submits:General Re, a Berkshire Hathaway (BRK.A) subsidiary, has reached a $92 million settlement with the federal government which will allow the firm to avoid prosecution for its role in an accounting fraud involving AIG.