All the union news that's fit to blog...
Here’s something I wrote for work…
Ownership and control
If you’re a delivery driver whose movements are monitored remotely, or doing gig work through a platform like Uber or Deliveroo, you’re already seeing the impact of technology on work. Million…Read more…
1. I had a quick Google to see if there are any more funds that use the generic blurb I’ve found in dozens of cases to avoid compliance with the Stewardship Code. And… yes there are.
Curam Capital Management:
Curam Capital Management LLP (the “Firm…Read more…
If you’ve spent any time trying to get pension funds to take account of labour issues, or any other social or environmental issue for that matter, at some stage you will have been on the receiving end of the need not to politicise investment decisions….Read more…
I don’t agree with everything she says, but a lot of it is on the money:
Every order is the temporary and precarious articulation of contingent practices. The frontier between the social and the political is essentially unstable and requires constant d…Read more…
There have been a few bits and pieces recently that I have read that critique capital strategies from a labour movement perspective. I think these are generally helpful, and having worked in this field for a long time, I share some of the critical view…Read more…
I’m not sure anyone has looked at individual investor voting decisions on the remuneration report at Persimmon’s AGM back in April, so I thought I’d take a look. As people may remember, there was a large vote against the rem report, and abstentions and…Read more…
This is from On The Political, published in 2005:In a context where the dominant discourse proclaims there is no alternative to the current neo-liberal form of globalisation and that we should accept its dictats, it is not surprising that a growing num…Read more…
Just a few links to some recent bits and pieces related to rebuilding unions. I am hopeful that the public policy discussion is moving on from simply observing that the decline in union density is correlated with rising inequality (and related issues),…Read more…
Just to keep this updated, there are a lot of regulatory disclosures being fired out by Inmarsat now. So I’m just keeping track of the hedge fund related ones.
Marshall Wace, which is very active on the short side in the UK, now has a 2.38% long posit…Read more…
At the back end of last week the UK-listed telecoms business Inmarsat revealed that it has been approached by US-listed Echostar Corporation about a potential takeover, which it knocked back.
As a result of the offer, a different regulatory disclosure…Read more…
Tomorrow will see the introduction of regulations that will make it mandatory for larger listed companied to disclose the ratio between chief executive salaries and the average pay for employees of the same firm. Although the UK has actually been beate…Read more…
This is from the concluding paragraph of a recent academic paper on executive pay:
While the pay controversies fueling calls for regulation have touched on legitimate issues concerning executive compensation, the most vocal critics of …Read more…
Ryanair’s latest results are out today. Aside from the update on negotiations on unions, which I won’t comment on…, the bit that caught my eye is the commentary on Brexit and the potential knock-on impact on Ryanair’s shareholders:
We remain concerne…Read more…
As most people will be aware, the Work and Pensions and BEIS committee have published their joint report on the Carillion collapse today. I won’t bother rehashing much better summaries of what it says that you can read elsewhere, rather I want to focus…Read more…
Lynn Stout, one of the most interesting thinkers/writers on corporate governance, sadly died recently at the ridiculously early age of 60. She was definitely someone who has had an influence on my thinking, and I strongly recommend her books (which are…Read more…
Two bits in the FT caught my eye recently, and I think both are indicative of why executive pay will continue to cause fuel the public’s belief that corporate boards are making out like bandits and there needs to radical action to tackle it.
First is …Read more…
A few weeks back, FirstGroup’s share price went on a mysterious upwards journey. Then, a few days later, it was revealed that FirstGroup had rebuffed an approach from US-listed private equity mob Apollo.
Almost immediately it became clear that, aside …Read more…
One of the things that was left hanging after the Melrose/GKN bid was the nature of the relationship between hedge funds and similar investors and their counter parties, and how this plays out during bid situations.
When I watched Greg Clark defending…Read more…
As you may have noted, there was a rather large vote against Persimmon’s remuneration report earlier in the week. This was in response to a £75m award to the chief executive, reduced from the original £110m.
First things first – the pay award was the …Read more…
Unite calls for tougher takeover laws as GKN bid gets government go-ahead24 April 2018The whims of short-term speculators and hedge funds will ‘drive a coach and horses’ through the UK’s industrial strategy unless the government toughens up the UK’s ta…Read more…