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Careful readers of footnoted — the type of folks who revel in reading the fine print — might have noticed that I haven’t been writing lately, even though if you Google footnoted you’ll see that it’s called “Michelle Leder’s Guide to What’s Hiding in SEC filings”. That’s because I had a baby boy — his [...]
In 1973 – two years before Microsoft (MSFT) was founded – Peter Karmanos, Jr., Thomas Thewes and Allen B. Cutting started Compuware Corporation (CPWR). It went public in 1992 and now has a market cap of $1.89 billion. Headquartered in downtown Detroit, it occupies a sleek building with 1.1 million square feet spread over 15 [...]
Isn’t it funny how moving is always more expensive than you think it’s going to be? So no doubt we can all sympathize with The St. Joe Co. (JOE), the timber company turned Florida Panhandle developer on a huge scale. Back in March, the company announced it would be moving its headquarters across the state [...]
One of the casualties of the Sarbanes-Oxley Act, for the most part, was a quirky executive “perk” that often amounted to millions of dollars in little-noticed, tax-advantaged pay. Called split-dollar life insurance, it worked like this: The company buys you a big life-insurance policy — one of Ken Lay’s was for $12 million — that’s yours [...]
Sending executives off into retirement with the proverbial golden handshake is a frequent theme here at footnoted. Still, even we were surprised by the 8-K that Corning (GLW) filed yesterday. Former CEO James Houghton, who has been serving as Chairman Emeritus — one of those ceremonial C-suite titles — is stepping down from the board [...]
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