1. Articles in category: BoardNews

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    1. MoviePass Executives are Making One More Last-Ditch Effort to Save the Stock From Being Delisted

      MoviePass Executives are Making One More Last-Ditch Effort to Save the Stock From Being Delisted
      • MoviePass parent Helios and Matheson on Friday said it would seek — again — to get shareholder authorization to reverse split its stock.
      • The company is in imminent danger of having its stock delisted from the Nasdaq; the market is hearing the company's appeal of its delisting decision later this month.
      • The proposal is basically the same one that the company withdrew in November in the face of widespread investor opposition...
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    2. Bandera Partners Issues Letter to Luby’s Stockholders

      Bandera Partners Issues Letter to Luby’s Stockholders

      Bandera Partners LLC, a significant stockholder of Lubys Inc. (NYSE: LUB) issued the following letter to Lubys stockholders. January 18, 2019 Dear Fellow Lubys Stockholders, Just over 10 years ago, when Lubys was engaged in a tight proxy contest with an activist investor, the incumbent board instituted some long overdue governance changes to swing votes back in their favor. Lubys incumbent board narrowly won that contest, and the stock has since fallen over 80% under its watch...

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      Mentions: ISS NYSE
    3. New Poll Finds Disruptive Innovations as Top Issue on the Minds of Corporate Directors

      New Poll Finds Disruptive Innovations as Top Issue on the Minds of Corporate Directors

      STAMFORD, Conn. -- Corporate Board Member, a division of Chief Executive Group and a market leader in board education, along with Grant Thornton LLP, a leading accounting, tax and advisory firm, have released the results of the 16th annual What Directors Think survey, which reflects the opinions of 249 directors at publicly traded U.S. companies...

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    4. Pernod Ricard says it is Seeking to Improve Governance

      Pernod Ricard says it is Seeking to Improve Governance

      PARIS (Reuters) - French family-backed spirits group Pernod Ricard , which is being targeted by activist investor Elliott, said it is striving to improve its governance and will communicate on future changes once they have been approved by its board. "We have not needed any external input as regards our continuous drive to seek to improve our governance," said a company spokesman to Reuters...

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    5. Les Moonves is Going to Arbitration to Fight for $120M Payout from CBS

      Les Moonves is Going to Arbitration to Fight for $120M Payout from CBS

      Les Moonves, the former chief executive officer at CBS, notified the company on Wednesday that he is continuing his fight for as much as $120 million in severance.

      The news emerged after CBS released a corporate filing on Thursday that noted Moonves had “notified the Company of his election to demand binding arbitration with respect to this matter. The Company does not intend to comment further on this matter during the pendency of the arbitration proceedings.”...

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    6. Jamie Dimon Gets a Raise to $31 Million After JPMorgan's Record Year

      Jamie Dimon Gets a Raise to $31 Million After JPMorgan's Record Year

      JPMorgan Chase raked in a record profit last year, and chief executive Jamie Dimon is getting a pay hike. The company's board of directors approved a $31 million pay package for 2018 that includes cash and stock awards, according to a public filing. That's 5% more than the banker received last year. JPMorgan is one of the first banks to disclose approved executive compensation for last year...

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    7. Yelp Just Created an Activist Investor

      Yelp Just Created an Activist Investor

      When Yelp (NYSE: YELP) first began to expand its more flexible non-term advertising contracts early last year, the market wasn't quite sure what to think. After all, the new model immediately helped Yelp deliver a beat and raise with record advertiser account additions in the first quarter of 2018 -- but shares fell, as Wall Street remained skeptical if newer advertisers would be willing to stick around for the long haul. Then, three months later, shares skyrocketed after Yelp's exceptional second-quarter results appeared to validate its approach ...

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    8. Cars.com Surges as Board Says Potential Sale in Play Following Activist Pressure

      Cars.com Surges as Board Says Potential Sale in Play Following Activist Pressure

      Cars.com ( CARS ) shares surged Thursday after the online car shopping service said it may explore a sale of the company, just weeks after activist investor Starboard Value pressed management to improve performance. Starboard Value, which owns around 9% of the Chicago-based group, told management in a letter published on December 10 that Cars.com had been losing customers for the past two years, leading to a decline in organic revenues...

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    9. PG&E Spikes After a Hedge Fund Challenges its 'Damaging, Avoidable, And Unnecessary Bankruptcy'

      PG&E Spikes After a Hedge Fund Challenges its 'Damaging, Avoidable, And Unnecessary Bankruptcy'
      • PG&E said Monday it intends to file bankruptcy petitions under Chapter 11, in order to protect the best interests of all stakeholders.
      • Hedge fund BlueMountain Capital Management, one of its biggest shareholders, challenged its plan to seek bankruptcy protection, saying it's "damaging, avoidable, and unnecessary."
      • PG&E has seen its value plunge by 85% after last November's deadly California wildfire...
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    10. Nissan May Abolish Chairman Role as It Rebuilds, Director Says

      Nissan May Abolish Chairman Role as It Rebuilds, Director Says

      (Bloomberg) -- Two months after the arrest of its chairman stunned Nissan Motor Co. and the entire global automotive industry, the carmaker is weighing abolishing the role altogether as it steps up reforms to rebuild its governance. Carlos Ghosn’s downfall, with the auto titan accused of financial crimes that could put him behind bars for decades, saw Nissan swiftly dismiss him as chairman, leaving the carmaker he once saved from the brink of collapse with a leadership vacuum at the board level...

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    11. Does Board Diversity Improve Corporate Performance?

      Does Board Diversity Improve Corporate Performance?

      The push to increase the percentage of women on corporate boards is reflected in a study published Wednesday by the Alliance for Board Diversity and Deloitte. Among Fortune 500 firms, the study finds that in 2018, women held 22.5% of board positions, an increase from 20.2% in 2016. Among Fortune 100 firms, women in 2018 held 25% of board seats, up from 23% in 2016...

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    12. Sears Avoids Liquidation as Eddie Lampert Wins Bankruptcy Auction

      Sears Avoids Liquidation as Eddie Lampert Wins Bankruptcy Auction
      • Sears chairman Eddie Lampert has reportedly won a bankruptcy auction to keep the 126-year-old retailer from liquidating.
      • Lampert's bid will keep about 400 stores open and retain 50,000 jobs.
      • "While there is no doubt that a shrunken Sears will be more viable than the larger entity which struggled to turn a profit, we remain extremely pessimistic about the chain's future," said Neil Saunders, CEO of GlobalData Retail...
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    13. Corporate Boards Pick Up the Pace at Diversifying, Study Finds

      Corporate Boards Pick Up the Pace at Diversifying, Study Finds

      NEW YORK — America’s largest companies added women and minorities to their boards of directors at a faster pace over the past two years, a period when sexual harassment scandals thrust workplace equality into the spotlight, a study shows. The rate of change remains slow, but minorities are making visible gains for the first time in many years, according to the 2018 Board Diversity Census, released Wednesday by the Alliance for Board Diversity and the consulting firm Deloitte...

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    14. A $57 Million Pay Dispute Sees Andrea Orcel get Dumped as New Santander CEO Before Even Getting Started

      A $57 Million Pay Dispute Sees Andrea Orcel get Dumped as New Santander CEO Before Even Getting Started
      • Santander said late on Tuesday that it will no longer be appointing UBS executive Andrea Orcel as its new CEO.
      • The Spanish banking giant said that the level of compensation that was required to hire Orcel was "unacceptable."
      • The sticking point in bringing Orcel to Santander was years of compensation that had previously been deferred by UBS, which, owing to his departure, the Swiss bank was reluctant to pay...
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    15. Going Public? For Uber, Lyft and Others, Shutdown Slows IPOs

      Going Public? For Uber, Lyft and Others, Shutdown Slows IPOs

      WASHINGTON (AP) — The partial government shutdown is slowing plans by some companies to issue stock to the public and potentially cutting off a key source of capital for the financial markets. The shutdown, now in its fourth week, has all but darkened the Securities and Exchange Commission, the government agency that oversees the markets. Most of the SEC's 4,400-person staff is furloughed, including lawyers and other staffers who must approve corporate paperwork for initial public offerings...

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      Mentions: Investors SEC Uber
    16. Chairman Leaves JAB Without a Rose

      Chairman Leaves JAB Without a Rose

      It’s not quite Page Six material, but the surprise exit of JAB Holdings Chairman Bart Becht yesterday shows things at the takeover-hungry company aren’t exactly simpatico.

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    17. Luby’s, Inc. Comments on Report from ISS

      Luby’s, Inc. Comments on Report from ISS

      HOUSTON --(BUSINESS WIRE)--Jan. 14, 2019-- Luby’s, Inc. (NYSE:LUB) (“Luby’s” or the “Company”) today commented on a report by proxy voting advisory firm Institutional Shareholder Services (“ISS”) regarding the election of directors to Luby’s Board of Directors at the upcoming 2019 Annual Meeting of Shareholders scheduled for January 25, 2019 . In the report, ISS acknowledged positive developments from Luby’s turnaround plan 1 : “The board indicates ...

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    18. Wells Fargo has Splurged on Stock Buybacks Since Fake-Accounts Scandal

      Wells Fargo has Splurged on Stock Buybacks Since Fake-Accounts Scandal

      Wells Fargo's deposits and loans are under pressure from two years of scandal. It's cutting up to 26,500 jobs and shutting hundreds of branches. And the bank's stock price has trailed the rest of the market. Despite those challenges — or perhaps because of them — Wells Fargo ( WFC ) has lavished shareholders with aggressive share buybacks. Wells Fargo shelled out $7.4 billion to repurchase its stock in the third quarter, nearly triple what it spent the year before...

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    19. In its Search for a CEO, Intel Still Hasn't Found What it's Looking For

      In its Search for a CEO, Intel Still Hasn't Found What it's Looking For

      Intel Corp. has been trying to fill the most prominent role in the $400-billion chip industry for more than six months. The company’s board still hasn’t found what it’s looking for. Intel directors have ruled out some candidates for the vacant chief executive officer post, passed up obvious ones, been rejected by some and decided to go back and re-interview others, extending the search, according to people familiar with the process...

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    20. Activist Hedge Fund Starboard Value is Looking at MGM

      Activist Hedge Fund Starboard Value is Looking at MGM

      Activist Hedge Fund Starboard Value is Looking at MGM The stock rallied after the announcement last Thursday By Ken Trester , Editor, Power Options Weekly To receive further updates on this MGM Resorts International (NYSE: MGM ) trade as well as an alert when it’s time to take profits, sign up for a risk-free trial of Power Options Weekly today . This morning I am recommending ...

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