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Commentary: Why Did SEC Deny Proxy Access to Shareholders on Election Procedures?
Last week the SEC made a decision that allows a company to omit from its proxy material any proposal that relates to a nomination or election for membership on a company's board of directors or a procedure for such nominations or elections. Torys partner Joris Hogan says that in light of pressures from institutional shareholders and Congress, and SEC Chairman Christopher Cox's undertaking to re-open the discussion on shareholder proxy access in 2008, the SEC's action is puzzling and seems precipitous.
Lawyer Reinvents Self in Bad Economy
Atlanta lawyer Richard Alembik had built a litigation practice around commercial real estate development and title work before the economy crashed and burned five years ago. To survive, he has had to reinvent himself, turning from big clients and big deals in real estate to small clients in danger of losing their homes.
Companies put corporate spin on mark-to-market values
Financial firms plagued by massive writedowns on their mortgage-related debt are trying to convince investors their fortunes aren't as desperate as they seem.The corporate spin from companies like MBIA Inc., Citigroup Inc. and American International Group Inc. goes like this: The value of investments on their books may be plunging now due to the credit crisis, but things won't necessarily stay bad forever.Bernanke had to 'hold my nose' over bailouts
WASHINGTON AP - Federal Reserve Chairman Ben Bernanke said Sunday that he had to "hold my nose" over last year's taxpayer-financed bailouts of big financial companies but argued that the action had to be taken to avoid a major meltdown of the U.S. financial system and the broader economy.Bernanke's comments came during a town-hall style meeting in Kansas City, Mo.
Why cultural intelligence matters
Critical to the success of international transactions and cases are lawyers who can conduct business with ease in a variety of cultural settings across the globe.Ex-GC Based Discrimination Suit on Confidential Data, Employer Says
A former in-house counsel who claims he was fired because his supervisor had "a discriminatory animus toward Jewish people" must respond to allegations in a counterclaim from his former employer that he improperly disclosed confidential information in his court complaint, a New York appellate court ruled Tuesday. In a unanimous opinion, the panel concluded that the lawyer's obligation to the Loews Corp. was not overridden by the fact that he was an "at will" employee.
DLA Piper Picks Up Saul Ewing Corporate Governance Head
Timothy E. Hoeffner left an international New York firm after 15 years to join Saul Ewing and lead its corporate governance group.
Where Is Our Banking System Headed?
In his Domestic Banking column, Clyde Mitchell, an adjunct professor at Fordham University School of Law, writes: Our banking system is under attack: Too Big to Fail, Too Big to Manage, too complex, not enough capital, not enough liquidity, its investment activities jeopardize our Federal Deposit Insurance, etc. What does all this mean? Are we really socializing our financial services industry? If so, why are we going down this path?Trending Stories
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