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.

Sunday, November 19, 2006

Home Depot raises their dividend again

Home Depot declared a third-quarter dividend of 22.5 cents a share, a rise of 50 percent over the second-quarter payout of 15 cents. In January, the company also raised its quarterly dividend by 50 percent.
from Reuters
So, what's the problem here? Because the CEO and insiders know the company has a problem and is marketing the stock to people who want the dividend and will stick it out.

Investors should know what's being marketed to them and why.

They also have a new director:
Helen Johnson-Leipold, 49. She is chairman and chief executive officer of Johnson Outdoors Inc., a recreational products company, and chairman of Johnson Financial Group, a financial services company.

But the good news, some of the existing directors are retiring, including Langone.
The retiring directors are John L. Clendenin, 72; Claudio X. Gonzalez, 72; Milledge A. Hart III, 72; and Kenneth G. Langone, 71.

That will make the new board:
Robert L. Nardelli
Chairman, President, and CEO
The Home Depot, Inc.

Frank Blake
Vice Chairman of the Board of Directors and Executive Vice President
The Home Depot

Gregory D. Brenneman
Chairman & CEO
TurnWorks, Inc.

Bonnie G. Hill
President
B. Hill Enterprises, LLC

Laban P. Jackson Jr.
Chairman & CEO
Clear Creek Properties, Inc.

Helen Johnson-Leipold
Chairman and CEO Johnson Outdoors Inc.
Chairman Johnson Financial Group

Lawrence R. Johnston
Former Chairman, CEO & President
Albertsons, Inc.

Angelo Mozilo
Chairman and Chief Executive Officer
Countrywide Financial Corporation

Thomas J. Ridge
Former Secretary of Homeland Security and Governor of Pennsylvania

posted by Larry Diamond # 6:09 PM 0 comments

Thursday, November 16, 2006

ISIS Pharma

Thanks to Jim Cramer for pointing this one out.

ISIS Pharma. They put out a press release talking about how good their new experimental drug is. They also says that the drug had a "strong safety profile".

Then they're quarterly report says the drug had some liver issues.

Shame on this company for putting out a press release intended to mislead the investing public.

Who's on this board?

Stanley T Crooke, M.D. Ph.D.
Chairman of the Board and Chief Executive Officer
Isis Pharmaceuticals, Inc.

Spencer R. Berthelsen, M.D.
Chairman and Managing Director
Kelsey-Seybold Clinic

Richard D. DiMarchi, Ph.D.
Professor and the Jack and Linda Gill Distinguished Chair, Biomolecular Science, Indiana University

Joseph Klein, III
Managing Director
Gauss Capital Advisors LLC

Frederick T. Muto, J.D.
Partner
Cooley Godward LLP

B. Lynne Parshall, J.D.
Executive Vice President, Chief Financial Officer and Secretary
Isis Pharmaceuticals, Inc.

John C. Reed, M.D., Ph.D.
President and Chief Executive Officer
The Burnham Institute

Joseph H. Wender
Senior Managing Director
GSC Partners

posted by Larry Diamond # 11:00 PM 0 comments

Wednesday, November 01, 2006

Monster founder quits the board.

Monster Worldwide Inc. founder Andrew McKelvey resigned from the company's board after declining to be interviewed by lawyers conducting an internal investigation into backdating of stock options at the company.

The board insisted he co-operate. He didn't, and now he's gone.

Who's on this common sense board?
William Pastore
Sal Iannuzzi
John Gaulding
Ronald Kramer
Geoge Eisele
Michael Kaufman
John Swann
David Stein

posted by Larry Diamond # 6:37 AM 0 comments

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