1. Articles from New York Post

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    1. Wells Fargo CEO: ‘Limited pool of black talent to recruit from’

      Wells Fargo CEO: ‘Limited pool of black talent to recruit from’

      Wells Fargo chief executive Charles Scharf exasperated some black employees in a Zoom meeting this summer when he reiterated that the bank had trouble reaching diversity goals because there was not enough qualified minority talent, two participants told Reuters. He also made the assertion in a company-wide memo June 18 that announced diversity initiatives as nationwide protests broke out following the death of George Floyd , an unarmed African American man, in police custody...

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    2. BlackRock ‘intrudes’ on Office Romances

      BlackRock ‘intrudes’ on Office Romances

      If you work for Larry Fink, he ­really wants to know who you’re hooking up with. Fink, the voluble chief executive of BlackRock — the world’s largest money manager — recently “updated” his company’s dating policy. In the past, employees were on notice to tell HR anytime they had a romantic relationship with another employee, an understandable but intrusive part of corporate life in the era of ­#MeToo...

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    3. Ackman’s Blank Check Company Raises IPO Target to $4 Billion

      Ackman’s Blank Check Company Raises IPO Target to $4 Billion

      Pershing Square Tontine Holdings, the blank check company backed by billionaire investor Bill Ackman , has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition company, or SPAC. The firm plans to go public with 200 million units at $20 each, according to a regulatory filing on Monday. A SPAC uses IPO proceeds and borrowed funds to acquire a company, typically within two years...

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    4. Wall Street Bonus Forecast Not as Dire as in May

      Wall Street Bonus Forecast Not as Dire as in May

      With the economy slowly bouncing back from coronavirus quarantines, Wall Street bonus season is shaping up to be less of a nightmare and more of a very bad dream. The latest survey by compensation consultant Johnson Associates predicts that financial services pay will be slashed by 15 percent to 20 percent in 2020 — a vast improvement from the 30 percent cuts the same survey predicted in mid-May . “We’ve dug halfway out of the hole,” the report’s author, Alan Johnson, told The Post...

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    5. Billionaire Investor Says Elizabeth Warren is Right, Ditches $16B Hedge Fund

      Billionaire Investor Says Elizabeth Warren is Right, Ditches $16B Hedge Fund

      A billionaire activist investor declared that “Elizabeth Warren is right” as he left the helm of his giant hedge fund to focus on environmental and social-impact investing. Jeffrey Ubben — a corporate cage-rattler who has prodded for change at behemoths including Microsoft, BP and Nintendo — said he is leaving his $16 billion hedge fund, ValueAct Capital , to start a new fund that’s more socially conscious...

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    6. The Average Hedge Fund Lost 6.7 Percent in 2018

      The Average Hedge Fund Lost 6.7 Percent in 2018

      Ex-Goldman Sachs partner still believes in cryptocurrency Hedge funds are thrilled to see 2018 in their rear-view mirrors. As year-end returns for high-profile activist hedgies like Dan Loeb, David Einhorn and Bill Ackman trickle in, early fears about hedge fund returns getting clipped are being realized. “It’s been a tough year for active managers,” Don Steinbrugge, chief executive of hedge fund consultancy Agecroft Partners, told The Post...

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    7. Breaking News: Papa John's Board OKs 'Poison Pill' to Block Founder From Gaining Control

      Breaking News:  Papa John's Board OKs 'Poison Pill' to Block Founder From Gaining Control

      The boardroom battle at Papa John’s got a little uglier on Sunday. The pizza chain’s board, looking to further distance itself from the company’s controversial founder , voted on Sunday to adopt a poison pill to keep John Schnatter from gaining a controlling stake in the Louisville, Kent., company, according to a report. The move is expected to be made public on Monday, the report said, citing people familiar with the matter...

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    8. Elliott Management Pushes for Overhaul of Sempra Energy

      Elliott Management Pushes for Overhaul of Sempra Energy

      REUTERS Less than one year after nudging Sempra Energy into its largest acquisition ever , activist investor Paul Singer is urging the San Diego-based company to burn some fat. Singer’s Elliott Management, working alongside energy investment firm Blue­scape Resources, is pushing Sempra to replace six members of its 14-person board, according to a presentation the two released Monday...

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    9. Activist Shareholder Scores a wWin against Ugg Boots Maker

      Activist Shareholder Scores a wWin against Ugg Boots Maker

      Activist investor Mick McGuire — who has been struggling to get on the board of the company that makes Ugg boots — just got a foot plant. Influential proxy advisory firm ISS recommended late Wednesday that shareholders vote for three nominees to the board of Deckers Outdoor that have been put forward by McGuire’s hedge fund, Marcato Capital. “ISS’s recommendation validates our belief that change is needed on Deckers’ Board,” McGuire said in a statement Thursday...

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    10. Sony Says it Won’t Sell Struggling Movie, TV Businesses

      Sony Says it Won’t Sell Struggling Movie, TV Businesses

      Sony considers merging gaming and film divisions Sony Corp. said it won’t sell its struggling movie and TV business after a string of Hollywood flops including last year’s “Ghostbusters” helped fuel a a $1 billion writedown. Instead, Toyko execs said they aim to turn it around by adding sales channels and making more use of movie characters. “We believe in long-term upside potential for [Sony] Pictures,” Chief Financial Officer Kenichiro Yoshida said at a Thursday earnings briefing...

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      Mentions: CEO
    11. Axed High Times Exec ‘Looted’ the Company

      Axed High Times Exec ‘Looted’ the Company

      A media exec who claims he was fired for trying to get a marijuana magazine’s staff to behave professionally is being accused of siphoning $10 million in corporate cash on personal expenses. Last month, David Kohl sued Trans-High Corp. , which owns High Times magazine, alleging the board of directors was lazy and “ineffective” and canned him for trying to end the pot bible’s “inappropriate” culture...

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    12. Rao’s Exec Used Company Cash to Pay for Jewelry, Italian Trip

      Rao’s Exec Used Company Cash to Pay for Jewelry, Italian Trip

      The family feud over red sauce at Rao’s just got spicier. New court papers accuse the cousin who heads the famed eatery’s specialty-foods division of spending thousands in company cash on jewelry, a trip to Italy and a personal trainer. The legendary Harlem restaurant, where it’s nearly impossible to get a table, expanded its reach in 1991 by peddling its famed sauce around the country...

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      Mentions: Compliance
    13. Activist Investor Urges FairPoint to Sell Itself

      Activist Investor Urges FairPoint to Sell Itself

      Verizon just got one step closer to buying Yahoo Activist investor Maglan Capital renewed calls for FairPoint Communications to put itself up for sale after the company’s CEO suggested he would rather be a buyer than a seller. New York-based Maglan Capital, which owns 7.5 percent of FairPoint’s outstanding shares, fired off a letter to the board on Thursday, reiterating its belief that the phone company is a prime acquisition target and should explore strategic alternatives...

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    14. Activist Investor Mad at iHeart’s Debt Maneuvering

      Activist Investor Mad at iHeart’s Debt Maneuvering

      Radio giant iHeartMedia’s latest debt maneuver is fanning the flames of a dispute with activist investor Mario Gabelli. iHeart, led by Chief Executive Bob Pittman, owns 90 percent of publicly traded Clear Channel Outdoor Holdings, the nation’s largest billboard company. Gabelli’s Gamco Asset Management owns 10 percent of the publicly traded shares. Gamco claims struggling iHeart, owned by private equity firms THL Partners and Bain Capital, is taking advantage of its billboard unit...

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    15. Facebook is Spending Millions to Keep Mark Zuckerberg Alive

      Facebook is Spending Millions to Keep Mark Zuckerberg Alive

      The social-media company shelled out $5 million last year to make sure its co-founder and CEO had protection around the clock, according to regulatory filings.

      Maybe Zuckerberg really does need protection, after ISIS earlier this year threatened him and Twitter CEO Jack Dorsey.

      Either Zuckerberg is paranoid or there are far fewer people out to get powerful Apple CEO Tim Cook — whose company spent relative chump change of ......

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    16. Oreo investor Ackman Slams ‘Society Damaging’ Coca Cola

      Oreo investor Ackman Slams ‘Society Damaging’ Coca Cola

      Hedge fund titan Bill Ackman has news for billionaire investor Warren Buffett: Coke is bad for you. In addition, the activist investor claimed on Wednesday, it has “caused enormous damage to society.” But what about Oreos, Bill? In what is turning into something of a sugar slugfest, Ackman and Buffett’s Berkshire Hathaway have traded insults...

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    1-24 of 54 1 2 3 »
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