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RADIO CLIP, Marketplace, National Public Radio, October 9, 2003, The NYSE is expected to divulge the retirement packages of two more of its executives -- to the tune of about $30 million each.
Under the Marketplace heading, click on "Show Archive," locate October 9, 2003, and listen to all newscast items. The Corporate Governance Center's Dana Hermanson discusses high NYSE compensation levels.
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Warren Neel discusses The Corporate Library's study on "Corporate and Director Interlocks in the USA, 2003" in the Atlanta Business Chronicle, September 29, 2003: "Breaking away from [interlocking relationships among a small set of business people] is one of the biggest challenges." |
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Is it appropriate for a partner of a law firm to sit on a client's board of directors? "This goes to the heart of the matter," said Warren Neel of former U.S. Senator Sam Nunn's position on the boards of some of his firm's clients, including Dell and Coke.
"Nunn among most powerful directors in U.S.", Atlanta Business Chronicle.
September 29, 2003
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"It is going to be a very delicate and stressful exercise for the board to regain credibility," says Warren Neel as the board of the New York Stock Exchange began its struggle to rebuild confidence and its search for a new head.
"NYSE board proposes sweeping overhaul," Financial Post. September 20, 2003
"NYSE Names CEO search committee," The Providence Journal.
September 20, 2003.
Posted at www.projo.com
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On September 17, 2003, New York Stock Exchange Chairman Dick Grasso resigned under growing criticism over his pay. Research Fellow at UT's Corporate Governance Center Paul Lapides provided input on the issues surrounding Grasso's resignation and the board's decisions.
"Home Depot critics point to Grasso," TheDeal.com. September 19, 2003
"Grasso's Resignation Causes Rethinking of Wall Street Management," VOANews.com. September 18, 2003
"NYSE's Grasso Quits at a Critical Moment for Financial Markets -- Big Board Chief Couldn't Withstand Growing Criticism Over His Pay Deal Myriad Achievements Overshadowed," The Wall Street Journal Europe.
September 18, 2003
"California, North Carolina Pensions Want NYSE Seats," Update2. Bloomberg.com. September 18, 2003
"Kennesaw University's Lapides Comments on Grasso's NYSE Ouster," Bloomberg.com. September 17, 2003
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Paul Lapides, Fellow of the University of Tennessee's Corporate Governance Center, is quoted on page 10 in the Ernst & Young newsletter, KNOW FRAUD, Issue 3-2003. He is quoted as saying:
Independence itself doesn't assure anything. You need to have independence of mind, and that's about courage, knowledge, and expertise to do the job of being director.
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Singapore Corporate Governance Code utilizes research of UT's Corporate Governance Center faculty Joe Carcello, Dana Hermanson and Terry Neal to conclude that good governance does lead to better oversight and reduces the risk of financial reporting problems.
"Research evidence shows good governance..." The Business Times, Singapore, online edition. September 1, 2003
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As the SEC struggles with investigations against audit firms for fraud and with implementing reforms in the industry, some industry members, including Dana Hermanson -- accounting professor and research fellow at UT's Corporate Governance Center -- think "it's wise to sit back and really see what impact the reforms have."
"SEC enforcement action lags against Big 4 firms," CBS MarketWatch.
August 27, 2003
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