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.Monday, September 04, 2006
Posion Pill dropped by Pep Boys - web site doesn't reveal who's on the board of directors or running the company!
Pep Boys (PBY) has had some problems over the past year, but the organization has moved to put better people in place. The board also dropped the poison pill they had. The CEO resigned in July, some of the old board resigned (some for non-related reasons) - some new members were added in the past few weeks to appease the hedge funds pushing for changes.
But now the "Corporate Governance" section of their home page goes right back to their firm wide home page - there is no page listing who's on their board!
So let me see if I understand this - this public traded company significantly owned by hedge funds who's had a bunch of organizational changes recently with no information about who's running the company.
They're getting the company organized up to be sold - but do you really want to be buying stock in a company that won't tell you who's running it?
The sad part of this is that I was getting ready to write that it was good that they dropped the poison pill. After doing some research, I'd be very wary of this stock.
But now the "Corporate Governance" section of their home page goes right back to their firm wide home page - there is no page listing who's on their board!
So let me see if I understand this - this public traded company significantly owned by hedge funds who's had a bunch of organizational changes recently with no information about who's running the company.
They're getting the company organized up to be sold - but do you really want to be buying stock in a company that won't tell you who's running it?
The sad part of this is that I was getting ready to write that it was good that they dropped the poison pill. After doing some research, I'd be very wary of this stock.
posted by Larry Diamond # 7:37 PM 
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