Patrick McGurn
Patrick McGurn
board case company control creating element key number plan seats seeking strategy value
This is particularly the case if a dissident is seeking control of the board or a substantial number of seats - an alternative strategy and plan for creating value at the company is going to be a key element of our evaluation.
almost last policies six spread within
Just within the last six months, these policies have spread pretty quickly. It's almost a proxy now for boardroom accountability.
earnings managing outright slippery slope
The '90s was the slippery slope from managing expectations to managing earnings to outright fraud.
allowed along builders certainly companies energy fit question rise rising seem ship simply tide value
The question is, have you simply allowed your ship to rise along with a rising tide and it's not the value actually provided. Certainly the builders and the energy companies would seem to fit that.
fill recruit surprised
If they were going to fill it from inside, I would have thought it would be done already. I wouldn't be surprised if they go out and recruit a new director.
bonus cash company felt primary problem
We felt the primary problem at this company was with the cash bonus program.
aligned closely less likely performance raise seem seems
While these payments may seem eye-popping, it seems more closely aligned with the company's performance and is less likely to raise the ire of shareholders than in years past.
control exhibit gradual past pay speed starting
Boards, frankly, are just getting up to speed in many instances on what they've done in the past and are really just starting to exhibit some control over the pay practices. It's going to be a gradual process.
anger board notice people taken
There is still a lot of anger out there, but people have taken notice of what the board has already been doing.
grants market peak sales
So many stock-option grants were made at the peak of the market that we'll be working our way through these sales for some time.
deeper demanding level market people start warren
When Warren is gone, the market will start demanding coverage. People will want a lot deeper level of analysis.
boards companies corporate felt good limiting public service standards
A lot of corporate boards felt it was a good idea for public companies to have standards limiting board service in place.
blame closer definitely flags language opposed red
There were definitely some that went closer to saying, 'Don't blame me,' as opposed to saying, 'This is the process,' ... I think that probably should set off more red flags as the language got stronger.
adequate bang ceos everybody limited
This is not a right-left, Republican-Democrat, man-woman, old-young issue. Everybody thinks, with some very limited exceptions, that CEOs are overpaid, and because of that, shareholders aren't getting adequate bang for their buck.