Tag Archive for ‘WorldCom’
Marjorie Kelly, co-founder and former President of Business Ethics magazine, describes her new book as “a journey into the territory of the possible, a kind of advance scouting expedition for the collective journey of our global culture.” In an excerpt from the book, Kelly explores the concept of ownership – what it means to the global economy, and to her personally.
Advisory shareowner votes on executive compensation were the big story of proxy season 2011, the inaugural year for “say on pay” at most U.S. public companies. In the first half of the year, shareholders voted against proposals at some 37 companies. The Council of Institutional Investors, a leading advocate for say on pay, offers its analysis of the “no” votes and what they might say about current executive compensation practices.
Independent directors have strong incentives to quit a company’s board precisely when they are most needed, creating an economically significant “dark side” affecting future performance, according to an academic study. The study found that in the wake of surprise outside director departures firms have worse stock and accounting performance as well as a greater likelihood of earnings restatements and shareholder lawsuits.
Whistle-blowing by employees and insiders is a “useful mechanism” for uncovering corporate misbehavior, with clear economic and governance impact on the companies involved, according to a new academic study.
If you’re one of the many trying to determine where blame might lie for the financial and economic crises of the last two years, John Gillespie would suggest you look in the corporate boardroom. Gillespie is co-author of a new book – Money for Nothing: How the Failure of Corporate Boards Is Ruining American Business and Costing Us Trillions – which is rich with unfortunate detail about the performance of corporate boards. Download a Business Ethics podcast featuring an interview with John Gillespie.
If you’re one of the many trying to determine where blame might lie for the financial and economic crises of the last two years, John Gillespie and David Zweig would suggest you look in the corporate boardroom. Their new book – “Money for Nothing: How the Failure of Corporate Boards Is Ruining American Business and Costing Us Trillions” – is rich with unfortunate detail.