|
|
|
|
|
|
|
|
|
|
|
 |
| Headlines |
|
 |
| |
Joe Carcello, the Center's Director of Research, has recently been selected to join the Public Company Accounting Oversight Board's Standing Advisory Group. The PCAOB's Standing Advisory Group is charged with advising the Board on the establishment of auditing and related professional practice standards. Dr. Carcello is the only current academic member.
Board Announces 2006 Standing Advisory Group Members,
Washington, DC, October 21, 2005
|
 |
| |
|
|
| |
WebMD's chairman using corporate assets for personal reasons is likely not consistent with good governance, say Joe Carcello and Paul Lapides.
"Despite stellar IPO, unanswered questions linger over WebMD," Pittsburgh Post-Gazette, October 7, 2005
|
|
| |
|
|
| |
Joe Carcello comments on the Securities and Exchange Commission's decision in late September to give the smallest public companies more time to comply with Sarbanes-Oxley.
"Watchdogs frustrated by Sarbanes extension," The Wall Street Journal Online, October 4, 2005
(subscription required)
|
|
| |
|
|
| |
Despite the SEC's requirement that companies disclose the financial expert on their audit committees, it's not stated who qualifies or why. "It's far from clear why a particular individual meets the letter and spirit of the SEC law," says Joseph Carcello.
"Can you spot the finance expert?" Alix Nyberg Stuart, CFO, September 2005
|
|
| |
|
|
| |
Joan Heminway gave two academic presentations during summer 2005 relating to the 2004 Martha Stewart criminal trial, one at the Law and Society Association annual meeting and conference in June and one (as part of a "Corporate and Securities Fraud Update" panel) at the Southeastern Association of Law Schools conference in July. She also spoke at a Tennessee Bar Association continuing legal education seminar in June on Tennessee's new Limited Liability Company Act. In addition, her third project (coauthored with UT College of Law alum Jackie Prester) in a series of annotated acquisition agreements was published by Transactions: The Tennessee Journal of Business Law in its Spring 2005 issue. Prof. Heminway was quoted in the Winston-Salem Journal in May and in Business Tennessee Magazine in August.
The Informant, August 23, 2005
|
|
| |
|
|
| |
July 2005, Professor George Kuney made two presentations as part of Northwestern University School of Law's conference on "Teaching Contract Drafting," attended by over 100 teachers and professors of legal writing and related subjects. Prof. Kuney's expert report on United States and Tennessee law, specifically the Sherman Act, the Clayton Act, the Uniform Commercial Code, and Tennessee case law on non-competition agreements, was accepted on appeal from the Intermediate People's Court of Changsha, Hunan Province, People's Republic of China. The appellate court ruled in favor of Kuney's client on all counts. The dispute, between two Chinese firms, involved U.S. and Tennessee law because the parties had used language taken from a form contract from their ultimate customer, a firm in Nashville, that contained a Tennessee choice of law provision. The result would have been the opposite under Chinese law. "Watch the 'boilerplate,'" said Kuney.
The Informant, August 23, 2005
|
|
| |
|
|
|
Negative reports about past performance of Restoration Hardware, Inc's chief operating officer John Tate puts the board in " a bit of an awkward position," according to Joe Carcello.
"Retail exec under scrutiny for Krispy Kreme roles," Reuters, August 17, 2005
|
|
| |
|
|
| |
CEO pay keeps climbing, but changes brought about by increased transparency are likely in the future, says Director Warren C. Neel.
"CEO pay keeps climbing," (Part 1 of 2) Charlotte News Observer, July 17, 2005
(free registration required)
|
|
| |
|
|
| |
"The tone in the regulatory community right now is to hold the line," says Joe Carcello in response to recent topics of debate on new rules for transparency in financial reporting, in Compliance Week's June 2005 article, "Should investors have an open line to your auditor?"
|
|
| |
|
|
| |
Seeking to close the information gap between individuals and large investors and to communicate openly with the public, Morningstar Inc., a Chicago-based investment-research firm, began monthly forums to answer questions about its business. The first, released June 3, in SEC filings was a good first effort, according to Joe Carcello, but will require continued transparency, openness, and candor to succeed.
"Morningstar Goes Straight to Investors," International Herald Tribune,
June 18, 2005
"Morningstar Shines Light on Itself," The Wall Street Journal Online,
June 15, 2005
(subscription required)
"Morningstar to Keep Investors in the Loop," washingtonpost.com,
June 15, 2005
|
|
| |
|
|
| |
Saks Inc.'s audit committee "left no stone unturned" as it investigated wrongdoings that resulted in the firing of three top executives, reports Director Warren Neel who also serves as the chairman of the Saks Inc. audit committee.
"Wider Net Cast in Saks Inquiry," The New York Times, May 11, 2005
(free registration required)
|
|
| |
|
|
| |
As shares of Morgan Stanley drop following the decision of the board to keep its CEO Philip Purcell, Director Warren Neel commented: "The Morgan Stanley board offered investors a stick and a carrot. They raffirmed their backing of the CEO, but said to investors if you don't like this we're all going to be up for election."
"Morgan Stanley Shares Fall as Board Decides Against Ousting CEO," posted at Bloomberg.com, May 2, 2005.
"Decision to keep CEO Purcell rocks Morgan Stanley shares," www.theglobeandmail.com, May 3, 2005
|
|
| |
|
|
| |
"A lot of people who are on boards and audit committees are not financial types," says Joseph Carcello in Board Alert's May 2005 issue's story "Detail-Weary Directors Long for Days of Strategizing."
May 2005, Volume 9, No 5 available for download at Board Alert, May, 2005
(subscription required) |
|
| |
|
|
| |
Should investors have an open line to your auditor? Joseph Carcello discusses trends in European accounting circles in Compliance Week's Accounting Industry Update.
Posted at Compliance Week, April 26, 2005
(subscription required) |
|
| |
|
|
| |
The Boards of Directors of many U.S. companies are now considering the effects of the rise in cost of health-care benefits to their bottom lines, much more so than they did 10 to 15 years ago, says Director Warren Neel.
Posted at Corporate Board Member Magazine, April 20, 2005
(free registration required) |
|
| |
|
|
| |
The Committee of Sponsoring Organizations of the Treadway Commission task force studying small business challenges with complying with The Sarbanes-Oxley Act of 2002 is planning a roundtable in May to gather comments on a possible risk-based model for internal controls, announced Joseph Carcello.
Posted at Compliance Week, April 19, 2005
(subscription required) |
|
| |
|
|
| |
How has the corporate environment changed to protect itself from 1980s-style takeovers? Joseph V. Carcello explains in a Dallas Morning News story highlighting Carl Icahn and the potential Blockbuster proxy fight.
Posted at Dallas Morning News, Dallas, April 14. 2005
(free registration required) |
|
| |
|
|
| |
Oversight Systems Inc.'s 2005 financial executive survey reveals that Sarbanes-Oxley Compliance actually reduces the risk of fraud, decreases errors, and improves financial operations, though an issue remains with maintaining the morale of compliance employees. Corporate Governance Center co-founder and director of research Joseph V. Carcello, an advisor to Oversight Systems, explains.
Posted at Business Wire, www.home.businesswire.com, Atlanta, April 12, 2005 |
|
| |
|
|
| |
Companies seeking new board members are shying away from candidates who have the reputation of "twisting arms" for sizable donations to affiliated non-profit groups, says Director Warren Neel, in a story about a Chicago Tribune study of corporate foundations' gifts to charitable organizations.
Posted at ChicagoTribune.com, March 27, 2005 |
|
| |
|
|
| |
As EchoStar Communications Corp.'s audit committee investigates Chairman and Chief Executive Officer Charles Ergen's role in the company's accounting, Director Warren Neel addresses the dangers of having a board dominated by insiders.
Posted at Bloomberg.com, March 14, 2005 |
|
| |
|
|
| |
For two consecutive years, Business Finance magazine names UT's business professor Joe Carcello one of nation's 50 most influential.
Read the press release, January 2005 |
|
| |
|
|
| |
Corporate directors keep an eye on Disney decision in Delaware, as boards measure the appropriate level of involvement in senior management selection, according to Director Warren Neel.
Posted at ChicagoTribune.com on January 30, 2005
|
|
| |
|
|
| |
"A watermark for corporate governance," says Director Warren Neel as ex-Enron directors agree to settle lawsuit for $168 million, some from their own pockets.
Posted on Bloomberg.com on January 7, 2005; NorthJersey.com on January 9, 2005; AccountingWEB.com on January 10, 2005
|
|
| |
|
|
|
|
|
|
|
|
|
