December 07, 2005
Aussie Corporate LawHere is a terrific resource from Ian Ramsay and the Centre for Corporate Law and Securities Regulation at the University of Melbourne.
Posted by Gordon Smith in Corporate Law | Permalink | TrackBack (0)
June 28, 2005
The "Foie Gras Problem"Did you know we had a foie gras problem? I first learned about that from the strange case of Lovenheim v. Iroquois Brands, Ltd., 618 F. Supp. 554, 562 (D.D.C. 1985), in which the court held that a shareholder's proposal to have management study of practice of force-feeding geese among suppliers of the company's foie gras was "otherwise significantly related" to the business of the company, even though foie gras imports were not economically significant to the company. Reasonable minds differ, I suppose, but I always thought it was a bad decision to allow shareholders to vote on such things.
Posted by Gordon Smith in Corporate Law | Permalink | TrackBack (0)
March 15, 2005
Another CEO Bites the DustMaurice Greenberg is out at AIG, and the NYT contemplates the aggressiveness of new boards. The article quotes my friend Charles Elson: "The question is, Are boards getting too active? Are they pulling the trigger too quickly? I don't think so. They are looking at these terminations over the long term." I agree, though I hope that firing the CEO does not become a fad. For various reasons that are not always obvious to on outsider like me, business leaders seem peculiarly susceptible to fads.
Posted by Gordon Smith in Corporate Law | Permalink | TrackBack (0)
March 14, 2005
SOX defend SOXAccording to WaPo:
"We need, I think, now to continue moving forward, locking these concepts in place, getting the gatekeepers to keep doing their job," Sarbanes said.
Oxley quickly agreed, telling the audience there is no need for lawmakers to "meddle" at this point.
"We know the costs are real, but let's remember this is also an investment for the future," Oxley said. "How can you measure the value of . . . no more overnight bankruptcies with employees and retirees left holding the bag?"
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February 19, 2005
Steve Bainbridge on the Class Action Fairness ActSteve explains why Delaware's class action caseload is unlikely to be affected by the CAFA. Brett blogged about the CAFA on Conglomerate last week.
Posted by Gordon Smith in Corporate Law | Permalink | Comments (0)
