Corporate Governance
Good corporate governance - pointing out corporate directors who should and shouldn't be elected anywhere. This is my attempt to keep track of good people for board of directors and keep track of people who should be avoided.Saturday, September 02, 2006
Advo - do your homework before investing
Valassis Communications was going to acquire Advo (AD), but sued to prevent its merger citing that Advo "materially misrepresented the financial health of the company...".
I haven't looked into either of these companies, except that I know Advo is suing to ensure the merger happens anyway.
I don't know about Advo, but it seems pretty common sense to me that the Valassis people had to know Advo would countersue and this was going to be some long running litigation. The Valassis people had to figure that paying the lawyers would be cheaper than buying Advo.
Who's on the Advo board?
S. Scott Harding - CEO since October 2004
John Mahoney - Non-Executive Chairman of the Board since June 2004 and Executive Vice President and CAO of Staples, Inc. and is also a director for Boston Sand and Gravel and Tweeter Home Entertainment Group.
Todd C. Brown - formerly of ShoreBank and Kraft Foods
David Dyer - President and CEO of Tommy Hilfiger Corporation, former CEO of Lands' End
Bobbie Gaunt - former interim CEO in 2004 while they looked for a new CEO. Could the decision have been made long ago to sell off the company while it had value? Also a Director of the Great Atlantic & Pacific Tea Company and formerly of Ford
Charles M. Herington - President and CEO of America Online Latin America and serves on the Boards of Coors Brewing Company and Adolph Coors Company and NII Holdings, Inc. (formerly known as Nextel International).
Karen Kaplan - President of a subsidiary of The Interpublic Group of Companies, Inc.
Howard Newman - associated with Warburg Pincus, LLC, a private equity investment firm, since January 1984 and has been a partner of Warburg, Pincus and Company since January 1987. Mr. Newman is also a Director of Newfield Exploration Company, Cox Insurance Holdings, Plc., Encore Acquisition Company, Spinnaker Exploration Company, and several privately owned companies.
None of these people seem particularly suspicious, but you don't sue to prevent a merger and accuse people or misrepresentation because they had cold feet.
I haven't looked into either of these companies, except that I know Advo is suing to ensure the merger happens anyway.
I don't know about Advo, but it seems pretty common sense to me that the Valassis people had to know Advo would countersue and this was going to be some long running litigation. The Valassis people had to figure that paying the lawyers would be cheaper than buying Advo.
Who's on the Advo board?
S. Scott Harding - CEO since October 2004
John Mahoney - Non-Executive Chairman of the Board since June 2004 and Executive Vice President and CAO of Staples, Inc. and is also a director for Boston Sand and Gravel and Tweeter Home Entertainment Group.
Todd C. Brown - formerly of ShoreBank and Kraft Foods
David Dyer - President and CEO of Tommy Hilfiger Corporation, former CEO of Lands' End
Bobbie Gaunt - former interim CEO in 2004 while they looked for a new CEO. Could the decision have been made long ago to sell off the company while it had value? Also a Director of the Great Atlantic & Pacific Tea Company and formerly of Ford
Charles M. Herington - President and CEO of America Online Latin America and serves on the Boards of Coors Brewing Company and Adolph Coors Company and NII Holdings, Inc. (formerly known as Nextel International).
Karen Kaplan - President of a subsidiary of The Interpublic Group of Companies, Inc.
Howard Newman - associated with Warburg Pincus, LLC, a private equity investment firm, since January 1984 and has been a partner of Warburg, Pincus and Company since January 1987. Mr. Newman is also a Director of Newfield Exploration Company, Cox Insurance Holdings, Plc., Encore Acquisition Company, Spinnaker Exploration Company, and several privately owned companies.
None of these people seem particularly suspicious, but you don't sue to prevent a merger and accuse people or misrepresentation because they had cold feet.
posted by Larry Diamond # 2:45 PM 
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