SEC Advisory Committee on Smaller Companies Meets Tomorrow
The SEC Advisory Committee on Smaller Public Companies is meeting tomorrow (2/21/06) at 9:00 a.m. Click here for the Notice of Meeting. This is the committee that has proposed, among other things, exempting smaller public companies from SOX 404. The meeting will be audio webcast through www.sec.gov. I’m going to try to listen to it ... SEC Advisory Committee on Smaller Companies Meets Tomorrow
$6 Million for Biondi
Matt Bodie at PrawfsBlawg has a nice postscript on Icahn’s settlement with Time Warner (click here). Frank Biondi will get a nice postscript too–$6 million. Biondi agreed late last month to serve as Time Warner’s CEO in the event Icahn was successful in ousting the board. Even though Icahn was unsuccessful, Biondi gets $6 million ... $6 Million for Biondi
New Blog on Empirical Legal Studies
The Empirical Legal Studies Blog—a collaborative effort of Jason Czarnezki (Marquette), Michael Heise (Cornell), William Ford (Chicago), and Theodore Eisenberg (Cornell)—launched today at www.elsblog.org. Its purpose is to “advance productive and interdisciplinary discourse among empirical legal scholars.” Welcome to the blogosphere ELS! p.s: I noticed your site is lacking “TM”s. You may want to slap ... New Blog on Empirical Legal Studies
Management Talent Leaving in Droves for Private Equity
According to this Business Week article, top managers are fleeing public companies for jobs with private equity funds to hunt for deals, head portfolio companies, or both. The attractions are twofold: money and freedom. The pay can be outrageously good even at the entry levels; for CEOs, it can be spectacular. The flexibility is alluring, ... Management Talent Leaving in Droves for Private Equity
State of the Blogosphere
Below are highlights from the recent two part “State of the Blogosphere” Report by David Sifry, the founder and CEO of Technorati. Click here for Part 1 and here for Part 2. From part 1: Technorati now tracks over 27.2 Million blogs. The blogosphere is doubling in size every 5 and a half months. It ... State of the Blogosphere
Blogging and Tenure
I had my post-decision debriefing meeting with our Reappointment, Tenure and Promotion (RP&T) Committee this week (I got promoted to associate). This was my first RP&T meeting since I started blogging so I was interested in getting the committee’s take on it. Without a doubt it is favorable. In fact, to my surprise the committee ... Blogging and Tenure
Burger King Files for IPO
Burger King Holdings, Inc. filed a registration statement with the SEC today for the sale of $400 million of common stock (click here). While the prospectus does not include a price range or specify how many shares will be sold by BK vs. existing shareholders, it does contain a number of tidbits, including the following: ... Burger King Files for IPO
Trouble at XM
A week ago XM inked a three-year, $55 million deal with Oprah for a new channel called “Oprah And Friends.” XM shares rose 4.75% on the day the signing was announced, closing at $25.78 (article). Today, XM announced that its net loss widened to $286.3 million in the fourth quarter from $188.2 million for the ... Trouble at XM
NASDAQ to Launch New Market Tier
Nasdaq announced today (press release) that it is creating a third market tier called NASDAQ Global Select Market which will have the highest initial listing standards of any stock market in the world. According to Nasdaq’s CEO Robert Greifeld: NASDAQ is raising its financial listing standards above that of any other market globally to attract ... NASDAQ to Launch New Market Tier
New MovieBeam Home Video System
MovieBeam, Inc. is rolling out a new home video system today in 29 U.S. cities. Customers buy a TV set-top box for $199.99 (after $50 rebate) that comes loaded with 100 films. Each week, up to 10 new movies are beamed to the box through the airwaves. The new movies automatically replace older titles so ... New MovieBeam Home Video System
Pennsylvania Changes Rules for Sovereign
I’ve blogged before about Soveriegn’s proposed acquisition of Community Bank and related stock issuance to Santander. Sovereign’s largest shareholder, Relational Investors, is against the deal and petitioned the NYSE to block it (see here). The NYSE declined. I applauded the NYSE for this decision (see here), largely because it enforced its rules as written and ... Pennsylvania Changes Rules for Sovereign
IPO Allocation Abuse Rules
A recent W$J article entitled “Can Bankers Resist the Temptation?� notes that the IPO market is heating up and wonders whether underwriters can resist the temptation of allocating hot IPOs to hedge funds for flipping. Hedge funds now account for as much as a third of IPO allocations and “an increasing chunk of Wall Street’s ... IPO Allocation Abuse Rules
