Recent Posts

Monday, May 9, 2011

The Appearance of Reality: States as Laboratory

This is the sixth post in my effort to clarify corporate governance terms and concepts that now seem misleading to me. We all know what these words mean in a literal sense but in the context of governance, of business and of our post-crash world do they still mean… May 9, 2011 | corporate domicile , corporation law , proxy , corporate governance , Disinformation
Thursday, May 5, 2011

Where is the activism on behalf of ERISA beneficiaries?

Pensions are a topic on which I've spent a lot of time and effort.  I was appointed by President Reagan to run the office of Pensions and Welfare Benfits in the Department of Labor where I was also the ERISA Administrator.  It occurred to me recently that after all… May 5, 2011 | ERISA , Pension , shareholder activism , responsible ownership , trustees , fiduciary duty
Wednesday, May 4, 2011

Thanks Jim!

Jim McRitchie posted a very flattering review of Corporate Governance for Portfolio Investment over at corpgov.net.  Whether or not you read the review you should visit the site which is a major and up-to-date resource for the corporate governance world.  May 4, 2011
Wednesday, May 4, 2011

Two new videos: ownership & CEO power

Some new video today and I really hope you'll send me your thoughts.  I've talked about these topics before -- and maybe you have, too -- but I think we need some real discussion on these issues.  How can we affect change on these persistent problems? First is a… May 4, 2011 | responsible ownership , capitalism , CEO power , Citizens United , ownership
Friday, April 29, 2011

Reading: Public Law and Private Power by John Cioffi

It is a fine analysis of the interrelationship of corporate governance and conventional political considerations.  In particular, this passage stuck out for me, “It is difficult if not impossible to determine whether, or to what extent, managers seek to maintain autonomy from the state for ideological and normative reasons… April 29, 2011 | accountability , CEO Pay , CEO power , Corporate Power
Thursday, April 28, 2011

The Appearance of Reality: Directors

This is the fifth post in my effort to clarify corporate governance terms that now seem misleading to me. We all know what these words mean in a literal sense but in the context of governance, of business and of our post-crash world do they still mean the same… April 28, 2011 | accountability , directors , fiduciary duty , independent directors , Disinformation
Tuesday, April 26, 2011

Directors: Like parsley on fish

Some reflections after reading What's a Director to Do?  By Joseph Fuller and Michael C. Jensen. The emergence of the CEO as autocrat has reduced the position of boards of directors to "parsley on fish."  If a different system is desired, boards will have to change in virtually all… April 26, 2011 | accountability , fiduciary duty , board collegiality , directors , independent directors
Tuesday, April 26, 2011

Reading: Fixing the Game by Roger Martin

It is rare in reading a book, as I did over the weekend -- Fixing the Game by Roger Martin -- that you can identify a single sentence that fully expresses how you experience  the entire book.  On page 129, after dismissing the appropriateness of stock market value as… April 26, 2011 | value , CEO Pay
Friday, April 22, 2011

Litigation provides justice for those able to pay

Litigation provides justice for those able to pay. Large institutions, having access to their shareholders' money, can engage clever counsel and can require that any plaintiff have virtually limitless funds to prosecute the suit. This does not make sense for most people, which is the reason why the courts… April 22, 2011
Wednesday, April 20, 2011

Trustee failure and the financial crisis

There is widespread agreement in the US, the UK[1] and the European Union that the failure of shareholders – a majority of whom are trustees – to adequately monitor and to protest the management of portfolio companies (especially in the financial sphere) was a major cause of losses suffered… April 20, 2011 | trustees , fiduciary duty , financial crisis , responsible ownership
Tuesday, April 19, 2011

The Appearance of Reality: Trustees

This is the fourth post in my effort to clarify corporate governance terms that now seem misleading to me. We all know what these words mean in a literal sense but in the context of governance, of business and of our post-crash world do they still mean the same… April 19, 2011 | accountability , fiduciary duty , institutional investors , Pension , trustees , Disinformation
Monday, April 18, 2011

Goldman's Tin Ear?

Apparently, the questions raised with Goldman Sachs in the Hearings a year ago before the Financial Crisis Investigations Committee and Senator Levin's sub committee will persist. Was Goldman "tin eared", a little less than candid or did they deliberately misrepresent facts? Both Levin's committee and the newly published Money… April 18, 2011 | accountability , Financial Crisis Inquiry Commission , financial crisis , fiduciary duty , self-regulation , Corporate Power
Copyright 2019 by Robert A. G. Monks