A month after shareholders told Whole Foods to shape up and see if someone was interested in buying the chain — Amazon and Kroger, apparently, for a while — the health foods store hasn’t put up the “for sale” sign yet. Instead, the company says it will completely revamp its board. [More]
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Whole Foods Tries To Avoid Selling Itself By Replacing Most Of Its Board
By 5.10.17 — Updated: 5.25.17
Bidding War Continues: China’s Anbang Insurance Offers $14B For Starwood Hotels
By 3.28.16
Just when you thought $13.6 billion was enough to put an end to the bidding war for Starwood Hotels — home to brands like Sheraton, St. Regis, Westin, and W — and crown Marriott the victor, the other suitor, China’s Anbang Insurance Group, comes back to sweeten the deal with an offer of $14 billion. [More]
What’s It Like To Be An NFL Owner? Ask The Green Bay Packers Shareholders
By 9.10.15
“Please rise, remove your hats, your cheeseheads, and join us in singing our National Anthem.”
There is only one place those words make complete sense. Yes, even on a hot, bright summer day in July, when any pate covered in orange foam material had to be sweating more profusely than a Vikings fan in a purple jersey in a stadium full of green and gold: Lambeau Field, in Green Bay, WI. It’s the home of the Green Bay Packers. [More]
Judge Says Top Dole Execs Owe Shareholders $148M For Driving Down Company’s Stock Price Before Buyout
By 8.27.15
Two top executives at Dole are on the hook for $148 million after a judge ruled that CEO and chairman of the board David H. Murdock, and the company’s former chief operating officer, C. Michael Carter fraudulently drove down their company’s stock price so they could shortchange shareholders and buy the business on the cheap. [More]
Investors Sue American Express After Loss Of Costco Agreement
By 7.31.15
Five months after American Express and Costco announced they would go their separate ways and end their exclusive relationship – essentially allowing members of the warehouse club to use other cards – shareholders for the credit card company have filed a lawsuit claiming it blindsided investors with the loss of the contract. [More]
Sears Shareholders Sue, Claim CEO Is Stripping Company For Parts
By 6.1.15
For many years here at Consumerist, we developed a theory that the venerable department store Sears was secretly a vast anti-capitalist prank, which actively avoided selling merchandise. Its goal was something else: perhaps waiting for the retail real estate market to turn around and cash in the land and buildings that it owns. A group of Sears Holdings shareholders are starting to think the same thing, and they’ve filed a lawsuit against the company and its manifesto-writing CEO, Eddie Lampert. [More]
Are Corporate Boards Ruining American Businesses? This Book Says Yes
By 1.15.10
The new book Money for Nothing looks at corporate boards: how they’re frequently hand-picked and ruled by the CEOs they’re supposed to keep in check, how they’re sidelined by various conflicts of interest and lack of accountability, and how the worst ones have massively screwed shareholders. [More]
Shareholders To Decide If Verizon CEO Ivan Seidenberg Deserves $21 Million
By 11.3.07
Verizon will deign to consider an advisory vote on executive compensation from shareholders starting in 2009. Shareholders demanded the right to vote on executive pay at last year’s annual meeting. Verizon CEO Ivan Seidenberg’s salary increased 11% last year to $21,309,264. Seidenberg’s salary has risen consistently, unlike Verizon’s profits.
Shareholders File Lawsuit Against Mattel Over Toy Recalls
By 10.10.07
Mattel’s shareholders are upset. A pension fund in Michigan has filed a shareholder lawsuit against the company, claiming that they mishandled product safety procedures and were therefor responsible for 3 toy recalls this summer. The lawsuit also alleges that executives with knowledge of the defects sold $33 million in stock before the recalls were announced.
Walmart Shareholder's Meeting: Less Discussion, More J. Lo.
By 6.4.07
Jennifer Lopez was the main attraction at Walmart’s 4 hour long “shareholder’s meeting”, along with American Idol winner Jordin Sparks and comedian Sinbad. Less important? The shareholders. Walmart allotted 3 minutes to each of the resolutions shareholders had put forward. Why was such little time available for shareholders to discuss the company they own? “Time-constraints!” Walmart had to make room for the following:
Comcast's CEO Makes $27.8 Million, Does He Deserve It?
By 4.2.07
Members of the House Financial Services Committee, led by Rep. Barney Frank (D., Mass.), approved a bill last week that would give shareholders an advisory vote on pay.
Citigroup Gets Around to Addressing PIN Compromises
By 4.4.06
Hey, remember all those debit cards and PINs that got stolen and stuff? Where hackers got into Office Max, made off with debit card accounts and encrypted PIN codes, decrypted the PINs, made counterfeit ATM cards, and withdraw lots of money and large amounts of people were forced to get their ATM card changed without anyone telling them the real reason why? Well, apparently Citigroup remembers too. Eventually.
