Before being forced out, Bed Bath & Beyond’s co-founders turned thrift, savvy merchandising & good timing into a co… https://t.co/qaPP1eJhQa— 14 hours 30 min ago via@theofrancis
@footnoted Oh wow. So glad you're all OK. What a nightmare.— 4 days 14 hours ago via@theofrancis
Striking story on due-diligence gone wrong, from Ron Liber of the New York Times: How Charlie Javice Got JPMorgan t… https://t.co/j2ivsbjpPI— 4 days 14 hours ago via@theofrancis
Unemployed Americans are spending more time out of work as employers slow hiring from a red-hot pace earlier in the… https://t.co/Iju8YFFNhn— 6 days 16 hours ago via@theofrancis
Crypto is back — in Davos, at least, along with Anthony Scaramucci — as redemption tour rolls on. Fun piece from Wa… https://t.co/l97mx4NtWd— 1 week 2 days ago via@theofrancis
Advanced Micro Devices (AMD) is in a frustrating pickle. The US chipmaker wants to issue up to 16.5 million new shares so it can pay its executives in stock options and restricted shares. Shareholders have voted more than 85% in favor of the plan. And yet AMD can’t go ahead. Or rather, it can—with a hefty price tag.
We recently told you about four companies ignoring their shareholders’ votes. One was Hecla Mining, a silver producer that held the polls open longer than planned when it looked like shareholders were going to reject management’s pay package.
The vote is only advisory, but Hecla’s stalling worked: Instead of failing 49.6% to 46.7%, the company’s say-on-pay vote passed with 53.7% of the vote.
Forget majority rules. In US-style corporate elections, it’s rarely so simple.
Investors can complain as loudly and clearly as they like, but corporate boards are often free to ignore them, with few or no immediate consequences. That’s true whether the protest involves ousting a board member or changing how the company does business.