Just stumbled on this. Try Googling “generally supports the objectives that underlie the Code” and “consistent approach”. Someone somewhere drafted this text…
Shorting Carillion and funding the Tories at the same time
Disengaged shareholders
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Asset managers shorting their own clients
Hat-tip to the smart people in Labour’s shadow DWP team who have spotted that whilst Blackrock was shorting Carillion it was also managing money for Carillion’s DC scheme.
Inspired by that, I went and had a look at a few other companies on the FCA lis…Read more…
All stakeholder interests align over the long term, not
This was about a month before Ryanair agreed to recognise unions:
“Frankly, most of the shareholders would rather Ryanair doesn’t fly any planes for six months than the workforce becomes unionized,” said Barry Norris, who oversees about $500 million at…Read more…
Fat Cat Day – Ladbrokes special
Today is Fat Cat Day, the day on which the High Pay Centre calculates that the average FTSE100 CEO has “earned” as much as someone on average earnings gets in a year.
As we’re focused on exec pay, I thought I’d contribute an update to a blog I wrote …Read more…
Public ownership and UK pension funds
So, Labour is back in the game of public ownership. Various targets are now talked about for potential nationalisation, or something like it, including rail, the Royal Mail and utility companies. One of the interesting things about Labour’s discussion …Read more…
The emerging new politics of corporate governance and ownership
I wrote a piece a few months ago (prior to the election) saying that I thought that while the Left were unlikely to win the election, we were winning the battle of ideas. I don’t actually think this was a particularly insightful or original take, but i…Read more…
Union investors serve notice on XPO
News from the annual Committee on Workers’ Capital conference, which took place in Berlin this year:
Union investors serve notice on XPOTrade union investors meeting in Berlin today served notice on US-based logistics provider XPO that it must reform …Read more…
ECJ ruling challenges Ryanair’s employment model
Today saw a highly important by the ECJ relating to low-cost airline Ryanair. As many people will know* Ryanair is anti-union. It also relies on extensive use of indirect employment, with many cabin crew employed by agencies like Crewlink, whilst many …Read more…
Adolf Berle on Sports Direct
Adolf Berle, of Berle and Means fame, continued to write interesting things about corporate power and control long after The Modern Corporation and Private Property. The excerpt below is from Power Without Property: A New Development in American Politi…Read more…
Worker directors via the UK Corporate Governance Code
As anyone who reads this blog will probably be aware, the Conservative government bottled its commitment to put workers on boards. Instead it has asked the FRC to amend the UK Corporate Governance Code to give companies three options, one of which is a…Read more…
Sports Direct chairman scrapes through
Today was the Sports Direct AGM and, once again, chairman Keith Hellawell was in the firing line. He had previously said he would stand down if he failed to get the support of a majority of independent shareholders.
Ahead of the AGM Unite has flagged …Read more…
Against predetermination, trivialisation etc
I enjoyed this book recently. I won’t attempt to summarise any of it, but here are a couple of the many bits that I liked. May post up some more.
Bauman:
We are not predetermined. Nothing of what we do is inevitable and inescapable, lacking an alterna…Read more…
Wearing different hats
The excerpt below is from Hegemony and Socialist Strategy and plays into something I think a lot about today. To me it seems obvious that the Left had to shift towards a more expansive view of what people want than just what happens at work. In develop…Read more…
The Conservative corp gov calamity is an opportunity
I’ve blogged before about the political problem that executive pay has become. The Conservative government’s latest attempt to both look tough and do little is to my mind more evidence of it. I can see no positives in the outcomes for the government, t…Read more…
A new Left alignment on corporate governance
I can’t overstate how much I like the report that the IPPR has just issued on corporate governance. I’ve been boring on for a while now about what I see as the end of the 1990s model of corporate governance for the UK. At the same time there has been s…Read more…
Nex Group chair costs himself £25,000
Next Group, the successor company to ICAP, just managed to publicly humiliate itself by spending company funds on political campaigns.
The company has its AGM next Wednesday and disclosed in the notice of meeting that it had spent £25,000 funding five Conservative Party candidates facing Liberal…Read more…
Chantal Mouffe interviewed in 2007
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In praise of conflict (not just the band)
I don’t read much political theory, but am very interested in Chantal Mouffe so recently bought this. Just started reading it last night and great to find that someone has properly theorised some issues where I’ve had my own half-baked thoughts. This s…Read more…