1. Articles from Troy Wolverton

    1-17 of 17
    1. After Losing 99% of its Value, MoviePass' Parent Company is Getting Ready to Ask Shareholders to Support its CEO and approve his Pay

      After Losing 99% of its Value, MoviePass' Parent Company is Getting Ready to Ask Shareholders to Support its CEO and approve his Pay
      • Helios and Matheson, the parent company of MoviePass, has scheduled another shareholder meeting.
      • Unlike a meeting it cancelled last month, this is its standard, annual gathering of shareholders, where investors will get to vote on its director nominees and what it pays executives.
      • Even those proposals could prove controversial, considering how much the company's stock has declined this year — as much as 99% from the start of the year...
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    2. Facebook's Board Needs to Get a Spine and Fire Mark Zuckerberg, Marketing Guru Scott Galloway Said

      Facebook's Board Needs to Get a Spine and Fire Mark Zuckerberg, Marketing Guru Scott Galloway Said
      • Facebook ought to fire both CEO Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg for the string of failures on their watch, marketing professor Scott Galloway said at Business Insider's IGNITION conference Monday.
      • Zuckerberg holds majority control over Facebook, but the board ought to get the nerve up to fire him anyway, Galloway said.
      • Sandberg may be a feminist icon, but she still ought to be held accountable for Facebook's scandals and fiascos, he said...
      Read Full Article
    3. Microsoft's Surprising Comeback Over Apple is the Outcome of Two New CEOs With Radically Different Gameplans

      Microsoft's Surprising Comeback Over Apple is the Outcome of Two New CEOs With Radically Different Gameplans
      • Microsoft briefly overtook Apple this week as the world's most valuable company.
      • The development speaks volumes about investors' faith in the respective companies' futures and the leaders driving each company there.
      • While Tim Cook has demonstrated that he's a great manager for Apple, he's repeatedly shown he's "not a product person," and he's left shareholders wondering about the company's next act....
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    4. Facebook's Mark Zuckerberg Isn't Accountable to Anyone, so it's Time Congress Took Away the Source of his Power

      Facebook's Mark Zuckerberg Isn't Accountable to Anyone, so it's Time Congress Took Away the Source of his Power
      • Facebook's string of scandals over the last several years have highlighted the poor job Mark Zuckerberg has done running the company — and his lack of accountability.
      • The social networking giant's stock structure gives Zuckerberg near-absolute control over it, because the shares he holds get far more votes than those held by ordinary investors...
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      Mentions: Investors SEC Google
    5. It's Become Increasingly Clear That Alphabet, Google's Parent Company, Needs New Leadership (GOOGL, Goog)

      It's Become Increasingly Clear That Alphabet, Google's Parent Company, Needs New Leadership (GOOGL, Goog)
      • It's become increasingly clear that Alphabet needs new leadership.
      • The recent scandals and controversies and scandals at the company, most notably over its handling of sexual harassment allegations, have highlighted the shortcomings of its top leaders.
      • CEO Larry Page, for example, hasn't made a public appearance in years.
      • Behind the scenes, though, he and other top leaders have been enabling bad behavior among high-level employees, by all reports...
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    6. Investors Seem to be Balking at MoviePass' Parents' Plans to Reverse Split its Stock Again — And for Good Reason

      Investors Seem to be Balking at MoviePass' Parents' Plans to Reverse Split its Stock Again — And for Good Reason
      • Helios and Matheson, the parent company of MoviePass, is seeking to boost its share price through another reverse-split of its stock.
      • Two of the major research firms that offer investors advice on shareholder votes back the reverse-split proposal.
      • Even so, investors appear dubious of it.
      • They have good reason to oppose it — it would free the company up to issue billions of new shares of stock after it's already massively diluted shareholders...
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      Mentions: Investors Twitter ISS
    7. Tesla's Board is So Bad at its Job, it Failed at the One Thing it Says is Paramount — Protecting CEO Elon Musk

      Tesla's Board is So Bad at its Job, it Failed at the One Thing it Says is Paramount — Protecting CEO Elon Musk
      • Tesla's board has repeatedly made clear that it sees its duty as ensuring that Elon Musk remain in a leadership role at the company — not representing shareholders' interests.
      • But Musk's role at Tesla is now in jeopardy, thanks to charges filed against him by the Securities and Exchange Commission in connection with his series of tweets about potentially taking Tesla private.
      • The SEC is seeking to bar him from serving as a director or officer at a public company...
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    8. Snap’s Shareholder Meeting Was Less Than Three Minutes Long Because Evan Spiegel Controls so Much of the Company Anyway

      Snap’s Shareholder Meeting Was Less Than Three Minutes Long Because Evan Spiegel Controls so Much of the Company Anyway
      • Snap held its annual shareholder meeting on Thursday.
      • It was a brief affair, lasting less than three minutes.
      • The duration and format of the meeting demonstrated CEO Evan Spiegel's control over the company.

      Evan Spiegel just demonstrated another one of the great perks of being king — short meetings that you don't even have to attend in person...

      Read Full Article
    9. MoviePass' Parent Company Has Flooded its Investors With a 3,000% Increase in New Shares

      MoviePass' Parent Company Has Flooded its Investors With a 3,000% Increase in New Shares
      • The share price of Helios & Matheson, the parent company of MoviePass, has plunged in recent months amid ongoing losses at the subscription movie service.
      • But something else is weighing down the stock price — the more than 3,000% increase just since August in the number of the company's shares.
      • That dilution is set to only get worse, as the company is seeking authorization to issue even more shares...
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      Mentions: Investors stake AMP
    10. At Facebook's Annual Meeting, Mark Zuckerberg Stuck to his Talking Points — and Ignored Some of Shareholders' Biggest Concerns

      At Facebook's Annual Meeting, Mark Zuckerberg Stuck to his Talking Points — and Ignored Some of Shareholders' Biggest Concerns
      • At Facebook's annual meeting, company officials faced criticism from investors and a slew of shareholder proposals urging reforms.
      • Addressing concerns about the abuse of Facebook's service, CEO Mark Zuckerberg and his team repeated talking points they've previously made to the press or in Congress.
      • Zuckerberg and company ignored pointed concerns about the company's governance, a longstanding thorn in the side of many investors...
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    11. Facebook’s Stock Structure Gives Mark Zuckerberg a Blank Check — Investors Were OK with that, But the World Can’t Afford to Be

      Facebook’s Stock Structure Gives Mark Zuckerberg a Blank Check — Investors Were OK with that, But the World Can’t Afford to Be
      • Facebook is under scrutiny for how it handled its knowledge that Cambridge Analytica illicitly collected data on 50 million of its users.
      • In the wake of the news, Facebook's stock plunged 7% amid worries that it was practically inviting Congress to step in and regulate its network.
      • This scandal, along with the news that Russian-linked groups exploited Facebook's network to try to influence the 2016 election, might have other CEOs worried about their jobs...
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    12. Snap CEO Spiegel's $637 Million Bonus Shows Just How Broken Executive Compensation Is

      Snap CEO Spiegel's $637 Million Bonus Shows Just How Broken Executive Compensation Is
      • Snap recently disclosed that it paid CEO Evan Spiegel $638 million last year — mostly in the form of a gigantic stock award.
      • The award was worth more than any other since at least 2011, bigger even than the jumbo award Apple gave Tim Cook when he took over from Steve Jobs as CEO.
      • Snap says it gave him the award for leading it to an IPO, but its rationale for the award itself and its huge size doesn't make much sense...
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    13. Dropbox’s IPO is just the Latest Case of Startup CEOs Consolidating Their Power — and Investors Should be Outraged

      Dropbox’s IPO is just the Latest Case of Startup CEOs Consolidating Their Power — and Investors Should be Outraged
      • A growing number of tech companies are setting up stock arrangements that give outsized voting power to executives and founders — at the expense of regular shareholders.
      • Dropbox, which on Friday released the paperwork it filed to go public, is the latest startup to go this route; the arrangement would give CEO Drew Houston nearly a quarter of the voting power at the company.
      • Such stock structures insulate insiders from shareholder concerns, a privilege that executives and managers can abuse...
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      Mentions: Investors IPO Google
    14. ‘These are bad facts for him’: Intel CEO's $24 Million Stock Sale Before Disclosing the Chip Flaw Could Trigger Lawsuits, SEC Inquiry (

      ‘These are bad facts for him’: Intel CEO's $24 Million Stock Sale Before Disclosing the Chip Flaw Could Trigger Lawsuits, SEC Inquiry (

      Institutional investors are talking to plaintiffs lawyers about potentially filing suit against Intel over CEO Brian Krzanich's massive stock sale in November.

      • Krzanich gained some $24 million by selling all the shares and options he was allowed to sell under a plan he put in place only the month before. His plan was put in place months after Intel was informed of a major security vulnerability in its chips...
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      Mentions: Investors SEC Sale
    15. Roku's CEO and Other Insiders will Control 98 percent of the Company's Voting Power even after its IPO

      Roku's CEO and Other Insiders will Control 98 percent of the Company's Voting Power even after its IPO

      Roku may not have the same buzz as Google, Facebook or even Snap, but when it goes public, it plans to take a page from the books of those companies, creating an ownership structure that will give its CEO and other insiders outsized power.

      Following its planned public offering, 98% of the voting power of Roku's stock will be controlled by executives, directors, employees and other insiders...

      Read Full Article
      Mentions: IPO Google Facebook
    16. Former GE CEO Jeffrey Immelt Reportedly Tops the List to Replace Travis Kalanick as Uber's CEO

      Former GE CEO Jeffrey Immelt Reportedly Tops the List to Replace Travis Kalanick as Uber's CEO

      Jeffrey Immelt, the former CEO of GE, is now the top candidate to become the new CEO of Uber, Recode reported on Saturday, citing "numerous" unnamed sources.

      A majority of the board of the app-based taxi company is leaning toward Immelt, but two other candidates are still in the running, Recode reported. The board expects to vote on a new CEO within the next two weeks, according to the online news outlet...

      Read Full Article
      Mentions: Investors Uber CEO
    17. Jesse Jackson Scolded Facebook About its Lack of Progress on Diversity

      Jesse Jackson Scolded Facebook About its Lack of Progress on Diversity

      The Reverend Jesse Jackson took Facebook to task on Thursday over the lack of diversity among its board of directors.

      Speaking at the company's annual shareholder meeting, Jackson noted that he'd addressed Facebook's board on the same subject at the same meeting two years ago. The makeup of Facebook's board hasn't changed since then. As he noted, Facebook still doesn't have any blacks, Latinos or Asians on its board...

      Read Full Article
    1-17 of 17
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    Jesse Jackson Scolded Facebook About its Lack of Progress on Diversity Former GE CEO Jeffrey Immelt Reportedly Tops the List to Replace Travis Kalanick as Uber's CEO Roku's CEO and Other Insiders will Control 98 percent of the Company's Voting Power even after its IPO ‘These are bad facts for him’: Intel CEO's $24 Million Stock Sale Before Disclosing the Chip Flaw Could Trigger Lawsuits, SEC Inquiry ( Dropbox’s IPO is just the Latest Case of Startup CEOs Consolidating Their Power — and Investors Should be Outraged Snap CEO Spiegel's $637 Million Bonus Shows Just How Broken Executive Compensation Is Facebook’s Stock Structure Gives Mark Zuckerberg a Blank Check — Investors Were OK with that, But the World Can’t Afford to Be At Facebook's Annual Meeting, Mark Zuckerberg Stuck to his Talking Points — and Ignored Some of Shareholders' Biggest Concerns MoviePass' Parent Company Has Flooded its Investors With a 3,000% Increase in New Shares Snap’s Shareholder Meeting Was Less Than Three Minutes Long Because Evan Spiegel Controls so Much of the Company Anyway Hitachi to Announce Purchase of ABB's Power Grid Business Monday EOG Resources Appoints Julie J. Robertson to Board of Directors