Corporate Board articles from September 2005

Corporate Board archives from September 2005

Corporate law the Delaware way.
September 1, 2005... The small state of Delaware has long been the benchmark in corporate law for the United States, and a strong influence throughout the world. What has made tiny Delaware the de facto source for "national corporate law"? Flexibility, focus and an...

Sarbanes-Oxley: quack corporate governance.
September 1, 2005... When the federal Sarbanes-Oxley corporate reform law passed three years ago, it was the biggest overhaul of U.S. federal business law in 70 years. Roberta Romano's research uncovers troubling background on the law's corporate governance...

Is your chairman a leader?
September 1, 2005... As corporate boards develop their own leadership beyond that of the CEO, the quality of that leadership becomes ever more important. Has your board sought to define precisely what it needs in a board chair--and is your current chairman up to...

Raising the fairness benchmark.
September 1, 2005... Changes in the business environment and legal interpretations of duties of loyalty and good faith have placed directors in a position of increased liability. A change in viewpoint, from avoidance of personal liability to being a fully informed...

Board orientation and board culture.
September 1, 2005... Orientation of new directors has long been a hit-or-miss process at most boards. Increasingly, boards realize the value of offering new members a well-planned education on the company and its governance, but the author believes this is only a...

Public company costs, especially audit fees, rise sharply.(Audit)
September 1, 2005... The third annual study conducted by Foley & Lardner LLP on the costs associated with corporate governance reform shows that the average cost of being public in 2004 increased 33 percent over 2003 for a company with annual revenue under $1...

Corporate SOX compliance programs remain unfocused.(Audit)
September 1, 2005... Resources Audit Solutions in June released survey results that indicate nearly half of the nation's largest companies have not institutionalized their Sarbanes-Oxley (SOX) compliance, and their compliance management software is not yet...

Weaker company performance does not seem to slow CEO pay increases.(Compensation & Recruitment)
September 1, 2005... According to research from Judy Diamond Associates, the CEOs of underperforming companies worldwide received markedly higher bonuses in 2004 than in 2003, despite layoffs and lower revenues. The research determined that the median bonus...

Rank-and-file employees will lose the most in options cutbacks.(Compensation & Recruitment)
September 1, 2005... Rank-and-file employees will take the biggest hit as employers re-evaluate equity compensation plans due to the Financial Accounting Standards Board's (FASB) newly revised accounting standard for stock-based pay, according to Deloitte's 2005...

US workers' trust in management is low.(Corporate Responsibility)
September 1, 2005... A new survey finds that U.S. workers have some serious doubts about the leaders of their companies. Only 40 percent of the workers trust top management "to always communicate honestly" while a mere 38 percent say leaders "do a good job of...

Compliance efforts can spawn new value opportunities.(Disclosure)
September 1, 2005... Companies can turn regulatory compliance and heightened corporate governance efforts into opportunities that create value for their businesses, according to a report from the World Business Council for Sustainable Development. Companies...

Corporate directors are optimistic about M&A activity.(Mergers & Acquisitions)
September 1, 2005... Two-thirds of middle-market board members expect merger and acquisition activity to increase in their industry this year, while only seven percent predict a downturn, according to a study by Corporate Board Member magazine. The survey of...

Investors see the tide of governance reform rolling back.(Shareholders & Investors)
September 1, 2005... The aftermath of Richard Scrushy's acquittal, viewed as a setback for the Sarbanes-Oxley Act, and the departure of SEC Chairman Donaldson, may signal a move toward moderation of recent regulatory reforms. A survey of investors, after the U.S....

Five years ago in The Corporate Board.(Retrospectives)
September 1, 2005... Boards bring together high achievers with very impressive resumes (and often egos) and compel them to work collegially, as a team. It puts enormous weight and consequence on their every decision. It compels political solutions to high-stakes...

Ten years ago in the corporate board.(Retrospectives)(Brief Article)
September 1, 2005... In a world where capital moves globally in search of the best combination of low risk and high returns, any change that investors see as cutting risk is bound to lower the cost of capital to that firm. Lower cost of capital can make a...

Books Received.(Bibliography)
September 1, 2005... The Handbook of International Corporate Governance. By the Institute of Directors. Kogan Page US. $148. A comprehensive review of corporate governance standards and codes worldwide, compiled by the IOD. Making Change Happen. By Ken Matejka...

Articles & speeches.(Spoken & Written)
September 1, 2005... We've done what Congress asked us to--make fines not just a cost of doing business but a deterrent. We've got to have a balance between rules and enforcement of the law, and corporate and financial America picking itself up with an ethic that...

Albertson's, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... Albertson's, Inc. has elected to its board Wayne C. Sales, president and chief executive officers of Canadian Tire Corporation, Limited.

Applied Micro Circuits Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Applied Micro Circuits Corporation has elected to its board Dr. Murray A. Goldman, former executive vice president of the Semiconductor Products Sector at Motorola, Inc.

Battelle Memorial Institute.(Director's Register: Recent Board Elections)
September 1, 2005... Battelle Memorial Institute has elected to its board Scan O'Keefe, chancellor of Louisiana State University and former administrator of the U.S. National Aeronautics and Space Administration (NASA).

CenterPoint Energy, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... CenterPoint Energy, Inc. has elected to its board Donald R. Campbell, former chief financial officer and director of Sanders Morris Harris Group Inc., Janiece M. Longoria, partner in the law firm of Ogden Gibson White Broocks & Longoria, LLP,...

CIGNA Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... CIGNA Corporation has elected to its board Isaiah Harris, Jr., president of BellSouth Advertising & Publishing Corp., and Roman Martinez IV, former managing director of Lehman Brothers Inc.

Corinthian Colleges, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... Corinthian Colleges, Inc. has elected to its board Alice T. Kane, founder of Q-Cubed Alternative Advisor LLC and former chairman of Blaylock Asset Management.

DTE Energy Company.(Director's Register: Recent Board Elections)
September 1, 2005... DTE Energy Company has elected to its board Joe W. Laymon, group vice president of Corporate Human Resources and Labor Affairs for Ford Motor Company.

Duke Energy Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Duke Energy Corporation has elected to its board Jim Hance, former vice chairman of Bank of America Corporation.

DuPont.(Director's Register: Recent Board Elections)
September 1, 2005... DuPont has elected to its board Sean O'Keefe, chancellor of Louisiana State University and former administrator of the U. S. National Aeronautic s and Space Administration (NASA).

Electronic Data Systems Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Electronic Data Systems Corporation has elected to its board Malcolm Gillis, former president of Rice University.

HealthTronics, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... HealthTronics, Inc. has elected to its board Mark G. Yudof, chancellor of The University of Texas System.

IndyMac Bancorp, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... IndyMac Bancorp, Inc. has elected to its board Bruce G. Willison, dean of UCLA Anderson School of Management.

International Paper Company.(Director's Register: Recent Board Elections)
September 1, 2005... International Paper Company has elected to its board Alberto Weisser, chairman and chief executive officer of Bunge Limited, and John F. Turner, former assistant secretary of state for oceans and international environmental and scientific...

Jefferson-Pilot Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Jefferson-Pilot Corporation has elected to its board Gary C. Kelly, vice chairman and chief executive officer of Southwest Airlines Co.

Kerr-McGee Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Kerr-McGee Corporation has elected to its board Robert O. Lorenz, former partner with Arthur Andersen LLP.

Kimberly-Clark Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Kimberly-Clark Corporation has elected to its board Abelardo E. Bru, former vice chairman of PepsiCo, Inc.

Luminex Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Luminex Corporation has elected to its board J. Stark Thompson, former president and chief executive officer of Life Technologies, Inc.

The Midland Company.(Director's Register: Recent Board Elections)
September 1, 2005... The Midland Company has elected to its board Rene J. Robichaud, president and chief executive officer of NS Group, Inc.

OGE Energy Corp.(Director's Register: Recent Board Elections)
September 1, 2005... OGE Energy Corp. has elected to its board Robert O. Lorenz, former audit division head and managing partner at Arthur Andersen LLP.

Pan-American Life Insurance Company.(Director's Register: Recent Board Elections)
September 1, 2005... Pan-American Life Insurance Company has elected to its board Kenneth C. Mlekush, former vice chairman of Jefferson-Pilot Corporation, and Nicholas R. Rasmussen, former executive vice president and chief financial officer of American General...

QUALCOMM Incorporated.(Director's Register: Recent Board Elections)
September 1, 2005... QUALCOMM Incorporated has elected to its board Don Cruickshank, former director general of the United Kingdom's Office of Telecommunications and former chairman of the London Stock Exchange plc.

Schering-Plough Corporation.(Director's Register: Recent Board Elections)
September 1, 2005... Schering-Plough Corporation has elected to its board Thomas J. Colligan, former vice chairman of PricewaterhouseCoopers LLP.

Superconductor Technologies Inc.(Director's Register: Recent Board Elections)
September 1, 2005... Superconductor Technologies Inc. has elected to its board Lynn J. Davis, president and chief operating officer of August Technology Corporation.

The TriZetto Group, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... The TriZetto Group, Inc. has elected to its board L. William Krause, chairman of Caspian Networks, Inc.

Walgreen Co.(Director's Register: Recent Board Elections)
September 1, 2005... Walgreen Co. has elected to its board Jim Skinner, vice chairman and chief executive officer of McDonald's Corporation.

Wells Fargo & Company.(Director's Register: Recent Board Elections)
September 1, 2005... Wells Fargo & Company has elected to its board Lloyd H. Dean, president and chief executive officer of Catholic Healthcare West.

Whole Foods Market, Inc.(Director's Register: Recent Board Elections)
September 1, 2005... Whole Foods Market, Inc. has elected to its board Hass Hassan, former executive chairman and president of Fresh & Wild, Ltd.

Louis Thompson: the new investor relations role for boards.(Conversations)(Interview)
September 1, 2005... Though legally the most powerful entity in a public corporation, the board of directors has long been hidden away from investors, usually being no more than names on the annual proxy ballot. Now, corporate turmoil, Sarbanes-Oxley rules, and...