The directorship of a public company is a great job if you can get it — good money, long lunches, and virtual immunity from sacking, as this list attests. By Adam Schwab.
Governance
Why drugs are good for kids
What do these people have in common? Bill Clinton, George W. Bush, Sigmund Freud, Tony Abbott, Mark Latham, Madonna and Barack Obama. Answer – they have all at some time in their lives used illegal drugs, writes Duncan Fine.
Can Australia come of age in corporate governance campaigning?
The Wilderness Society had a major win in lobbying ANZ to walk away from its long-term role as lead banker to Gunns, but this doesn’t mean the $2 billion Tamar Valley pulp mill is dead, writes Stephen Mayne.
Bankers seek to change accounting rules to deflect subprime pain
The banking industry, who helped create the environment that allowed the subprime crisis, US housing slump and credit crunch to flourish, now want the accounting rules changed to help them survive, writes
Plus ca change: Conflicts continue at Octaviar
Technicalities aside, it certainly doesn’t look good to see Octaviar (MFS) quickly selling off a major asset to a company which is closely associated with its major shareholder and executive director, writes Adam Schwab.
Fearing a run, Diverseport directors call a freeze
A small, Brisbane-based investment fund has been frozen after directors feared it would be overrun in a “run” on it by investors, writes Glenn Dyer.
Insider trading, coming soon to a boardroom near you?
The Australian Institute of Company Directors has hit out strongly at claims that directors have been “insider trading”, writes Adam Schwab.
ASIC asleep on the job?
Was ASIC asleep while Westpoints, Opes Prime, the Tricom situation, stock lending and shorting was going on? asks Glenn Dyer.
Instos and proxy advisers MIA on Alumina lunch club
Alumina Ltd is Australia’s worst example of an overpaid, underworked old boys club, writes Stephen Mayne.
Vanquished Stokes reveals his dark side
Kerry Stokes suffered a humiliating defeat at the WA News EGM yesterday when less than 20% of the independent shareholders backed his campaign for a board seat, reports Stephen Mayne.
Kohler: RBA’s repurchasing may mark a turning point
Why would the RBA start giving cash to the banks for as little as 20 basis points above cash, wonders Alan Kohler.
The business of conflict in The West
The conflicts between The West Australian’s editorial coverage and the Stokes commercial interest will be huge, so the best way to avoid this for Stokes not to be chairman., writes Stephen Mayne.
As Allco burns, Sir Rod shares some pearls on the boardroom
When eight of the nine Allco plays have destroyed more than 80% of their equity value in less than a year, it is amazing that non-executive director Rod Eddington will even show his face in public, writes Stephen Mayne.
The Sackable Seven – which directors most deserve the boot
It’s remarkable that we are yet to see a single high profile non-executive director fall on their sword as a result of the current credit mess. Stephen Mayne is ready to do some prodding.
United Group CEO goes debt-free, will Macquarie follow?
Margin loans over shareholdings are now such a dirty word that we’re seeing CEOs selling shares just to be able to declare they are completely debt free, writes Stephen mayne.
