Tag Archives | Anne Simpson

California Diversity Forum 2017: Part 2

CalPERS and CalSTRS sponsored the California Diversity Forum in Sacramento (“America’s Most Diverse City”) on Wednesday, May 12, 2017, bringing together investment and corporate executives to discuss how to better capitalize on the abilities of the diverse modern workforce. Diversity is both morally right and profitable. Narrowing the global gender gap would add $12 trillion in annual gross domestic product to global growth (McKinsey Global Institute).

What follows are my cryptic notes from the Diversity Forum. Sometimes they are just phrases I captured that may not mean so much out of context. Maybe it will be just enough to mark your calendar for next year’s Forum. More coverage at Part 1 and on Twitter at #CADiversityForum. I loved the fact that for once, I didn’t have to travel thousands of mile. Nice to have such an event in my own hometown.

Diversity Forum: The Corporate Perspective

Yee, Parcella, Chiames, Hymes

Betty Yee, Babriela Parcella, Paul Chiames, and Victor Hymes

Continue Reading →

Continue Reading ·

Report from CII Winter Meeting: ESG

CIIEven in Washington, the numbers are impressive. The Council of Institutional Investors, who met in Washington DC this week, represents 23 trillion (with a t) dollars, mostly made up of retirement and other savings of working families. Compare that to the entire budget of the US government, less than two trillion a year. Like most industry group meetings in Washington, this one had presentations on what to expect from Congress and the regulatory agencies and how millennials will change the way the members do business, plus snack breaks and wireless sponsored by firms trying to sell products and services to the attendees. But the a two and a half day session featured repeated agenda topics on climate change and what are called ESG issues, suggesting that pension funds may step in where governments have failed. Continue Reading →

Continue Reading ·

3D Moves to Equilar – Diversity Benefits

3D Joins Equilar Diversity Network

3D Joins Equilar Diversity Network

3D Moves to Equilar. The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) today announced the Diverse Director DataSource (3D) will now be available through the Equilar Diversity Network.

The new partnership marks an exciting milestone for the 3D, a database the two pension funds jointly developed in 2011. 3D was designed to make it easy for companies to find untapped talent to serve as directors on corporate boards. 3D joins the suite of searchable sources on Equilar, further simplifying companies’ and candidates’ ability to build and be a part of diverse corporate boards. MSCI ESG Research previously hosted the database.

Launching 3D on Equilar’s Diversity Network showcases the depth and availability of qualified, diverse directors. The Diversity Network is designed to connect candidates from various diversity organizations with boards. Continue Reading →

Continue Reading ·

ICGN Boston 2015, Part 3: Differential Voting Rights

ICGNThis the third part of my coverage of this year’s ICGN event in Boston. These posts haven’t been checked for accuracy and I haven’t taken the time to edit the prose to make complete well-flowing sentences. Still, I hope you find them of some value.

Morning keynote on Differential Voting Rights: Corporate governance and investor protection in companies with a controlling shareholder

Continue Reading →

Continue Reading ·

Replay the Glass Lewis Conference Call on Proxy Access

Glass LewisOn Thursday March 5th proxy advisor Glass Lewis held a conference call to discuss proxy access, i.e. the right for shareholders to place their director nominees on company proxies, instead of having to pay for a separate proxy and solicitation.

The New York City Comptroller, Scott Stringer has taken the lead on proxy access this year with his Boardroom Accountability Project and the introduction of 75 proxy access proposals. Continue Reading →

Continue Reading ·

CII Fall 2014 Conference: Part 2

CIIThis is first time I’ve attended a Council of Institutional Investors (CII) semi-annual conference. My report from first day events can be found at CII Fall 2014 Conference: Part 1. Okay, I’m getting more cryptic in my second day of notes. Sorry, I’m not willing to take the time to clean them up. Watch out for possible misstatements. Don’t bet on anything I write. There are no fact checkers or even grammar editors at corpgov.net.

Continue Reading →

Continue Reading ·

NACD Directorship 100 Released

NACD-DirectorshipThe National Association of Corporate Directors (NACD) announced the 2014 NACD Directorship 100, the annual list that recognizes leading corporate directors, corporate governance experts, policymakers, and influencers who significantly impact boardroom practices and performance. NACD has recognized individual directors who serve as role models in promoting exemplary board leadership, oversight, and courage in the boardroom for more than 37 years. Continue Reading →

Continue Reading ·

CalPERS Urges Nabors to Exclude Broker Non-Votes

NBRCalPERS-logoCalPERS filed a notice of exempt solicitation (PX14A6G) and urged shareholders to vote for a proposal asking the company to amend their bylaws to exclude broker non-votes when tabulating proxy votes at the 2014 AGM of Nabors Industries (NBR). I don’t personally own stock in NBR but the issue is an important one, so it is good to see CalPERS raising it at this high visibility company. Continue Reading →

Continue Reading ·

My Notes from Ceres Conference 2013

Let’s just label these notes as “for entertainment purposes only.” Attending the conference was a real pleasure. Unfortunately, I was too busy catching up with people to take more than impressionistic notes at a few of the discussions. Prepare to be frightened about global climate change and our irresponsibly slow pace addressing the catastrophic consequences we are already beginning to see all around us. Save April 30 and May 1 for Ceres Conference 2014 in Boston. Continue Reading →

Continue Reading ·

CalPERS: Passive Investing – Active Monitoring

Investment News reports that California CalPERS, the second biggest U.S. public pension fund, is weighing the idea of taking its massive $255 billion assets under management and moving to an all-passive portfolio. Should we care?

Well, it would matter a lot for active managers who receive management fees from CalPERS, Josh Brown, who runs the popular financial blog the Reformed Broker, points out on Twitter.

Of course, the income of active managers could suffer if CalPERS moved the vast majority of its money management in-house. However, depending on how it is done, it could also hurt the larger society. Continue Reading →

Continue Reading ·

Agency Capitalism: Corrective Measures (Part 2)

This is Part 2 of a post which started out reviewing the important thesis outlined in The Agency Costs of Agency Capitalism: Activist Investors and the Revaluation of Governance Rights by Ronald J. Gilson and Jeffrey N. Gordon (January 1, 2013). See Agency Capitalism: Corrective Measures Part 1 and Part 3. Current law encourages mindless indexing of portfolios and voting like lemmings to fulfill fiduciary duties. While Gilson and Gordon stressed the need for activist hedge funds, below I explore some additional options. Continue Reading →

Continue Reading ·

The Jobs Act: Challenges and Opportunities

As the United States continues to rebuild its economy, the JOBS Act will impact businesses and financial markets. Legal practitioners, scholars, and students must be proficient in the legal and business aspects of the JOBS Act. This symposium will facilitate discussions of potent topics related to the future of securities transactions regulated under the JOBS Act and the impacts these transactions will have on the practice of law. Continue Reading →

Continue Reading ·

Corporate Directors Forum 2013 – Day 1, Part 1

Below are some relatively quick notes I took at the Corporate Directors Forum 2013, held on the beautiful campus of the University of San Diego, January 27-29, 2013. See materials. The program was subject to the Chatham House Rule, so there will be little in the way of attribution below but I hope to provide some sense of the discussion.

I throw in a lot of opinions. Some are those of panelists, some are mine, and some came from the audience.  I learned a few things, renewed acquaintances and made some new ones. If corporate governance is your thing, I hope to see you there in 2014.

First, a quick shout out to Linda Sweeney, executive director, Corporate Directors Forum; Larry Stambaugh and Michael J. Berthelot, program co–chairs; James Hale and Anne Sheehan, meeting co–chairs, as well as all the others who made CDF such a great experience, including valets, cooks, wait staff, student volunteers and many more. Continue Reading →

Continue Reading ·

Weathering a Crisis: Weil in Silicon Valley

On May 8, 2012, Weil, Gotshal & Manges LLP’s Silicon Valley office hosted a one day symposium on Weathering a Crisis for corporate leaders and general counsel. Panel discussions focused on how to effectively handle a crisis before it becomes public; how to navigate the media while preserving your company’s public image; and how to implement sound strategic plans and compliance programs in order to avoid corporate wrong-doing.

Millstein, Simpson, Whitworth, Gregory

Continue Reading →

Continue Reading ·

LA Trustees Roundup 2012: Corporate Governance

As Laura Berry mentioned at the conference, this is an event to recharge your batteries. It is great to learn what others are doing. Of course, the list of things I need to do grows exponentially every time I attend one of these gatherings of mostly California public pension funds. Disclaimer, disclaimer, disclaimer: Nothing I report is a quote. Opinions expressed don’t represent the views of respective organizations and may not even represent the views of those attending the event. Provocation may be intended Continue Reading →

Continue Reading ·

Can Investors Behave Long Term?

The second session, Can Investors Behave Long Term?, of the Yale Governance Forum 2011 was held “on the record.” In some respects, that makes it even more difficult to report. I’m not a quick note taker, so would welcome comments from any who attended the forum, especially panelists, concerning what transpired.

Marco Becht

Keith Ambachtsheer

As I recall, Keith Ambachtsheer, author of Pension Revolution: A Solution to the Pensions Crisis, started us out after a brief introduction from Marco Becht, who served as the moderator. Ambachtsheer noted that all shareonwers are not the same. The wealthy, insurance industry, pensions, and others should be contrast with “guns for hire” who seem to need to be active. There is growing realization by many investors, such as  Keith Johnson Continue Reading →

Continue Reading ·

Securing Fund Assets: PM Sessions

Disclaimer: These are my notes from a conference of mostly California pension funds. I’m not a very quick note taker, so I have a tendency to fill in the “gaps” with relevant material from the Internet and with my own interpretation of what where I think the speaker was going. These notes are basically a small part of a more than 15 year diary mostly written for my own future reference. Of course, I try to be accurate but this is a blog. I don’t have the fact checkers and other resources of publications like the New

York Times. On the other hand, I’d like to think that I sometimes bring additional insights to bear on the subject… sometimes more than the average reporter… although that may be delusional on my part. Sorry, these notes are even more cryptic than usual but hopefully still of use.

The subject of the 1st day of the LA Pension Fund Trustees Roundup 2011 conference was, Pension Fund Strategies for Securing Fund Assets.

John Liu

Lunch Keynote John Liu, NYC Comptroller Securing Plan Assets and Organizing for Accountability in Response to the Mortgage Crisis

Simpson sets tone for panel

Tools To Secure Fund Assets, Mitigate Risk and Ensure Accountability

Anne Simpson

Facilitator: Anne Simpson, CalPERS Litigation Jay Eisenhofer, Grant and Eisenhofer Shareholder Resolutions Laura Berry, ICCR Advocacy, Legislation and Regulation Lisa Donner, Americans for Financial Reform Funds Working Together Hugh O’Reilly, Cavalluzzo, Hayes, Shilton, McIntyre & Cornish

Anne Simpson – CalPERS is focusing on single issue… majority vote. ID 50 companies. 22 agreed. Apple though it was above and beyond. CalPERS has $1B in Apple. Majority vote won 73% of vote.  We tweeted on Continue Reading →

Continue Reading ·

Powered by WordPress. Designed by WooThemes