Topic: Friday Night Dump

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A tale of two paychecks at McKesson & CA
June 13, 2011—Proxy season is pretty much over for the big companies that follow a calendar year, but “pretty much” leaves room for some interesting exceptions. Last week, it was McKesson (MCK), the medical distribution and IT giant, and CA Inc. (CA), the information technology company formerly known as Computer Associates. Both of them sent the SEC […]

A 41% raise for 33% more work at Ascent Media…
June 8, 2011—The classic image of the hard-charging American CEO is pretty well summed up by that old cliché of giving 110%. But stereotypes, of course, can be misleading. Consider William R. Fitzgerald, chairman and chief executive of Ascent Media Group (ASCMA), who has just agreed to give his company 80%. That’s 80% of his time, and […]

The Dollar Thrifty opera, Act II…
June 7, 2011—Last August, we wrote this post about Dollar Thrifty Automotive Group, Inc.’s (DTG) dramatic merger negotiations with rivals Avis Budget Group, Inc. (CAR) and Hertz Global Holdings, Inc. (HTZ). At the time, Dollar Thrifty had just announced its intentions to choose a suitor (Hertz) in a proposed $1.3 billion deal that didn’t actually conclude with […]

A new debate over an old filing…
June 6, 2011—Here at the footnoted Global Campus (location: the Cloud), we pride ourselves for a pretty unusual day job: There aren’t a lot of people in this world who spend most of their time reading and writing about Securities and Exchange Commission filings. That said, plenty of people do it at least occasionally, and sometimes what […]

Deal-making Vermont-style…
June 1, 2011—In terms of size, the $930 million deal that Fortis (FTS) announced yesterday to acquire Central Vermont Public Service Corp. (CV) is relatively small, even if Central Vermont’s stock soared 40% on the news. After all, it’s Vermont. Land of Cabot Cheese, those cutesy Teddy Bears and those lovely covered bridges. But when we started […]

Pultegroup pays a visit to the Friday night dump…
May 31, 2011—We always watch the filings that trickle in just before the SEC closes its doors for a long holiday weekend, and that’s how we found this 8-K by home building company Pultegroup, Inc. (PHM), filed at 4:41 p.m on Friday afternoon In that filing, PulteGroup disclosed the retirement terms for Roger A. Cregg, its Executive […]

Dell and the high cost of CEO security…
May 27, 2011—A few weeks ago, we poked at Amazon (AMZN) CEO Jeff Bezos for needing $1.6 million worth of security protection that the company paid for and deemed “especially reasonable” given the CEO’s low salary. So it was nice to flip through the proxy that Dell (DELL) filed last night and read this: Mr. Dell reimburses […]

Not so coincidental at Global Crossing…
May 25, 2011—In mid-April, around the time Global Crossing (GLBC) said it would be acquired by Level 3 Communications (LVLT), we footnoted a serendipitous development for Global Crossing’s senior management: a “Special Rewards Program” established in January that gave the top brass thousands of additional shares, theirs to keep “in full upon a Change in Control.” At […]

Juicy details in Warner merger proxy…
May 23, 2011—When it comes to merger proxies, we’re just like Warren Buffett and love — and we do mean love — to read the “background of the deal”. So when Warner Music (WMG) filed its preliminary merger proxy late Friday, we immediately flipped to that section and were pretty surprised with some of the things we […]

Did B&N’s Riggio have the Burkle flu?
May 17, 2011—  As we were flipping through the proxy that GameStop (GME) filed yesterday afternoon, we spotted an interesting disclosure about one of its directors, Leonard Riggio, who also happens to be Chairman of Barnes & Noble (BKS). The proxy noted that Riggio had decided not to stand for re-election when GameStop’s board meeting is held […]