Proxy Voting Turnout Small for "Say on Pay" Written By: Miranda Marquit 2008-05-23 13:39:00 Shareholders aren't voting on proxy issues dealing with executive pay. With the proxy voting season more than half done (there are only a few companies left with shareholder votes), a somewhat disturbing trend is developing with regard to "say on pay." Through proxy voting, shareholders can make their will known.
I still think the fact that John Thain got to look at the firm's books and still wanted the job means that there is probably no huge surprise write down coming. Remember, this guy grew up at Goldman as a mortgage trader and knows all the trader tricks for hiding losses in a mortgage/CDO trading book.
However the market is still pricing in more negative surprises, so that means MER cheap here. I've decided it will likely get cheaper so I'll be greedy. After putting my toe in the water and buying the first part of building a position on his announcement I've decided to hold off on adding more.
My favorite CEO on the list is John Thain for managing to negotiate Merrill Lynch (MER - $42.60) shareholders out of $83 million for doing not much more than quitting his job at the NYSE and moving into his new office. I want this guy on my team next time I buy a car. Though, unless he considered me a charity case, I couldn't afford him.
U.S. Investment Banks Enjoy High IPO Fees Written By: David Neubert 2007-03-27 14:00:17 Sarbanes-Oxley, a draconian visa application process, in addition to relatively low valuations and higher interest rates, aren't the only things making U.S. capital markets less attractive to foreign issuers of IPO's; a cartel that keeps IPO fees high is also part of the problem.
