CEO power

Tuesday, February 14, 2012

The Capture of Corporate Governance - San Diego Law School February 16, 2012

Speech to faculty of University of San Diego School of Law, February 16, 2012.  "American corporations today are like the great European monarchies of yore: They have the power to control the rules under which they function and to direct the allocation of public resources. This is not a… February 14, 2012 | capitalism , CEO Pay , CEO power , corporate governance , ownership , capitalism

Monday, September 12, 2011

Robert Monks speech, GMI Public Funds Forum 2011

Practice read-through of 2011 speech for GMI's Public Funds Forum.  See the text of the speech here. September 12, 2011 | Corporate Power , shareholder activism , CEO power

Thursday, July 28, 2011

SEC Proxy Rules Decision

Bob discusses the DC Circuit Court decision regarding the SEC proxy rules in Dodd-Frank.  The ruling  "tells you more about the Court than it does the issue or the SEC."   July 26, 2011. July 28, 2011 | CEO power , directors , SEC , proxy , Dodd-Frank , regulation

Thursday, July 28, 2011

DC Circuit Court decision preserves CEO power

Regarding the DC Circuit Court on SEC Proxy rules:  a legal system that preserves the hegemony of the CEOs.  What does a board do that would be impossible to do with an outside director there?  July 26, 2011. July 28, 2011 | CEO power , directors , SEC , proxy

Wednesday, May 4, 2011

Breakdown of Democratic Capitalism

Question: what factors are behind the breakdown of democratic capitalism? Bob Monks responds "Since Citizens United, CEOs have, in effect, control over the rules pursuant to which the corporation is supposed to function." April 27, 2011 May 4, 2011 | CEO power , CEO Pay , Campaign Finance , corporate governance , Citizens United

Sunday, May 24, 0201

Responsible ownership and the financial crisis

Bob Monks discusses responsible ownership in the light of the financial crisis. He proposes that multiple classes of stock would allow interested and responsible owners to exercise good governance. He also draws parallels between the lack invested ownership and the conflicts of interest that arise when there is no… May 24, 0201 | responsible ownership , Financial Reform , CEO power

Thursday, June 13, 2013

Discussing the book on Reuters TV

I was interviewed for Reuters TV when I was in New York last week.  I had the chance to talk with Rob Cox and explain the theory behind Citizens DisUnited.  It really was an excellent interview and I think he was able to draw out some good explanations behind… June 13, 2013 | Capture , Corporate Drones , Corporate Power , CEO power

Friday, May 24, 2013

A Stacked Deck: JPMorgan Shareholder Fight

In my business, it seems you only win the ones that don’t count. In my case: Sears pulled out all the stops to keep me off the board;   After winning a 40% precatory vote to separate the CEO and Chairman at Exxon two years running, support fell to… May 24, 2013 | CEO power , shareholder activism , JPMorgan , annual meetings , boards of directors

Tuesday, April 24, 2012

A Happy Monopoly - Ratings Agencies

Happy monopoly describes the ongoing status of the SEC approved rating companies (Nationally Recognized Statistical Rating Organizations – NRSRO).  Notwithstanding that the Financial Crisis Investigation Commission and Senator Carl Levin’s Subcommittee on Oversight confronted the CEOs of the big ratings firms whose crisis-related pay went up by a multiple… April 24, 2012 | proxy , SEC , CEO power , Corporate Power , accountability

Thursday, April 5, 2012

Confronting Power

The only way I know to combat corporate power as it now stands is for government to exercise its powers as owners of a preponderance of publicly traded stock. Self-regulation didn't work and any attempts at government regulation are thwarted or circumnavigated. You can't control a corporation from outside… April 5, 2012 | fiduciary duty , CEO power , Capture , Corporate Power , Government Capture , Money in Politics , ownership

Friday, September 9, 2011

Shut the SEC and start over

I was particually interested in William D. Cohan's recent piece for Bloomberg, "Big Reason to Shut SEC, Start Over."   Certainly, recent reports show the SEC to be less than effective regulators of Wall Street -- whether it's lazy, inept or worse -- but the agency has been problematic for… September 9, 2011 | SEC , regulation , CEO power

Wednesday, June 8, 2011

The Appearance of Reality: Stock Buy Backs

This is the ninth post in my effort to clarify corporate governance terms and concepts that now seem misleading to me. We all know what these words mean in a literal sense but in the context of governance, of business and of our post-crash world do they still mean… June 8, 2011 | CEO power , fiduciary duty , ownership , responsible ownership , CEO Pay , Disinformation