What we have in our current state of Corporate Governance is Kabuki Theater.
Frankel Fiduciary Prize Speech
Last month I was honored at the Frankel Fiduciary Symposium in Washington. It was a wonderful day of speeches about the evolution of fiduciary duty with much discussion about how we can (and must) recapture the original undertanding. Over the last fifty years, we’ve seen a steady erosion of fiduciary duty to shareholders and increasing conflicts of interest. More than that, corporations and managers have undermined fiduciary duty to enhance their own interests. We must continue the work started at the Symposium.
Frankel Fiduciary Prize Symposium – December 10
The Institute for the Fiduciary Standard today announced the final program for the Frankel Fiduciary Prize Symposium which will honor Robert A. G. Monks in Washington at the National Press Club on December 10. The final program follows.
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…
Corporate Governance 2011 — Year End Reflections
1. The Elephant in the Living Room. The single best indicator of the state of corporate governance – a system of accountable power – is the capacity of senior management to increase their own compensation that has been going on for two decades. The metaphor of the elephant in…
