More CEO's under Government Scrutiny

As reported in today's Wall Street Journal, The House Committee on Oversight and Government reform are questioning the pay packages of three corporation's executives. The companies involved are Countrywide Financial Corporation, Merrill Lynch & Co. and Citigroup Inc.
This hearing on executive compensation has come about due to the mortgage market shakeout and the foreclosures happening nationwide.
The report depicts as excessive the compensation received by the executives of all three firms, but it's major concentration today was on Mr. Angelo Mozillo, the founder of Countrywide.
In 2006, Mr. Mozillo collected compensation of about $42 million dollars. Stock options exercised between November of 2006 and the end of 2007 netted him another $1.5 billion dollars.

CEO Compensation and Corporate Governance

I will be posting my Master's Thesis on CEO Compensation and Corporate Governance when final approval of the document arrives. It will be an important part of this blog site for anyone with interest in this topic.

Frank + Ernest

Artist:	Bob/Tom Thaves
Property:	Frank and Ernest
Caption:	CEO. I see you didn't get a "golden parachute".
Published On:	2002-12-05

International Implications and effects

The conversations, media, government and court attention are not confined to just our country. There are international implications as well.

Questions and comments welcome

After fairly extensive research, I would welcome, and will try to address queries for more and/ or specific data and information. the topic changes almost daily, but has become a hobby of mine at this point.
Trials,and jail time have begun to be issued in the last few weeks.
Feel free to click anywhere that shows comments at the bottom of the posts, and leave a comment or suggestion.

Governance and Boards

There is a direct correlation between what has been occurring in the corporate world and how boards are or are not paying attention to management of the business they are responsible for.

Litigation Issues in Corporate Governance

The Federal courts have been coming down hard on corporate cases of questionable nature as of late. Some prior executives are facing jail time, some have had to pay their companies back some income received and some are not even being allowed to be paid income earned.

CEO Compensation

The subject of CEO compensation always surfaces when the topic of corporate governance comes up. How the board of directors, CEO and shareholders act and react to public pressure all differ.

Welcome to my site on corporate governance

This site is currently under construction. More information will be posted over the next few weeks. I am a graduate student at Cambridge College and wrote my thesis on corporate governance. My research brought me more information on the topic than I anticipated. Corporate governance has become a passion with me. There are arguments both for and against government intervention in the realm of executive pay packages.

President George W. Bush has said government should not interfere with executive pay packages. But he implosion of the likes of the Enron Corporation, World Com and Tyco in the early 2000's brought about the Sarbanes - Oxley Act of 2002, effectively bringing the government into the management, or at least the directing and legal issues regarding corporation management issues.

Some executives are being sentenced to jail as of Monday, January 28th, 2008. The CEO of Safenet was sentenced to 21 months in jail and fined $1 million dollars in a backdating scheme.