43 ordspråk av Charles Elson
Charles Elson
[The split between the former friends is a sign] that professional responsibility as a director trumps personal relationships, ... a positive change.
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A few years ago, something that appeared incorrect might not be changed. Today, with heightened concern over complete accuracy, the definition of materiality has gotten a lot broader.
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Any time you separate economic interest from voting interests, it leads to all kinds of problems. It lessens the accountability. I haven't heard of any good reason for dual-class stock. I think the proposal will strike a chord with a lot of people.
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At the time, people thought the Gilberts were like Don Quixote. But because of that case, it legitimized the use of the shareholder resolution,
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At the time, people thought the Gilberts were like Don Quixote. But because of that case, it legitimized the use of the shareholder resolution.
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Because of a greater focus on governance, the resignation of a director certainly has a greater weight attached to it. Boards have greater power. In the past, directors just faded into the sunset.
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Failure to be independent and failure to be circumspect carries a serious threat of liability.
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Frankly, once you commit to a job, you should stick with it unless you have an extraordinary reason. You can dissent, but you are not helping by taking yourself out of the equation.
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From a shareholder standpoint, it's not a particularly clear pond.
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Given the fact that the 'withhold' campaign at Disney is what started this whole brouhaha, I think it's appropriate that Disney adopt this standard, ... I don't believe this makes them a leader in corporate governance practices though I view it as a positive.
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He has a potentially conflicting fiduciary duty. There may be a way around it, but no matter how thick you slice it, it's still baloney. The next Time Warner board meeting will be interesting.
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He's a very bright guy. He'll figure his way out of this. The financial world is a very small place. When you're on the board of a company engaged in financial transactions, this sort of thing may happen.
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He's considered savvy and bright. He's a very talented investor. He'll be a tough one to replace.
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I do not view this as a negative opinion from a corporate governance standpoint. It should not make those who ignore their responsibilities happy nor should it discourage those who seek greater levels of oversight of directors,
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I think it's a smarter move on his part.
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