Arthur Levitt Issues Pension Warning, SEC, RiskMetrics, ISS, Gates Foundation

On October 31, 2007 the NY Times wrote a story on former SEC Chair Levitt's public pension concerns yet decided to not include the single most important fact, that being that Levitt is on the board of directors of RiskMetrics, a firm which creates derivative products for hedge funds and is now attempting an IPO. … Continue reading Arthur Levitt Issues Pension Warning, SEC, RiskMetrics, ISS, Gates Foundation

Tektronix Corporation Sale Mirrors Merrill Lynch CEO Attempt to Sell

Tektronix $2.8 billion sale to D.C. based Danaher Corporation is a dramatic example of top executives marketing a company's sale to benefit themselves and thereby breaching its duty to shareholders and other stakeholders. According to the WSJ, Merrill Lynch's CEO has tried the same trick yet the board is now considering firing him over making … Continue reading Tektronix Corporation Sale Mirrors Merrill Lynch CEO Attempt to Sell

SEC Chair Cox called to suspend RiskMetrics IPO due to proxy rule deficiency

Today Parish & Company formally requested the SEC to suspend RiskMetrics IPO due to inadequate disclosure regarding both RiskMetrics and ISS ownership structure. Such disclosure is the heart of proxy rule regulations given proxy firms unique role in the marketplace. In order to remedy this, RiskMetrics needs to file an ADV with the SEC and … Continue reading SEC Chair Cox called to suspend RiskMetrics IPO due to proxy rule deficiency

Obstacles Facing Microsoft’s HealthVault Initiative

When Microsoft announed its "HealthVault" concept I frankly just burst out laughing. It was back in 1999 when I proposed this concept to Intel Capital, the idea being to establish a place at Intel.com where users could store sensitive information, in particular health care records. The idea was to drive the project, not from a … Continue reading Obstacles Facing Microsoft’s HealthVault Initiative

Should Treasury Secretary Paulson and SEC Bail Out Citigroup and Former Secretary Rubin’s SIV Investments?

Current Treasury Secretary Paulson is now encouraging major banks, led by Citigroup, JP Morgan and Bank of America, to establish a financial superfund of perhaps as much as $100 billion to deal with toxic financil derivative products, often called SIV's. The biggest beneficiary would be the biggest issuer of SIV's, Citigroup and its Vice Chairman … Continue reading Should Treasury Secretary Paulson and SEC Bail Out Citigroup and Former Secretary Rubin’s SIV Investments?

Hedge Funds “Secret Sauce” (ISS) Going Public via Risk Metrics IPO

Institutional Shareholder Services (ISS) was purchased by Risk Metrics in the last year and will now be part of Risk Metrics upcoming IPO, see SEC S1 filing. ISS is the leading proxy firm and its opinions on merger and acquisition activity often determine a merger votes outcome. Sadly, many great companies with solid long term … Continue reading Hedge Funds “Secret Sauce” (ISS) Going Public via Risk Metrics IPO

EU Regulators Examine Reuters Thomson Merger

EU antitrust regulators vowed on Monday to scrutinise Canadian group Thomson Corp's takeover of British financial news and data provider Reuters over concerns the deal could stifle competition. With Rupert Murdoch now owning Dow Jones, parent to the WSJ and Barrons, one has to wonder what it will take for US regulators to more closely … Continue reading EU Regulators Examine Reuters Thomson Merger

Ontario Pension Fund Purchases Proxy Firm Glass Lewis

Here in the United States the two most important proxy firms are Institutional Shareholder Services, which is owned by hedge funds, and Glass Lewis, previously owned by a Shanghai Bank. The recent purchase of Glass Lewis by the Ontario Teachers Pension Fund is a terrific development in the world of corporate governance because it will … Continue reading Ontario Pension Fund Purchases Proxy Firm Glass Lewis