Paritosh's Feed
Feb 28, 2012

CoreLogic investor seeks CEO, board changes

Feb 28 (Reuters) – Highfields Capital Management LP, a
large CoreLogic Inc investor, is calling for a change
in the company’s management and board after the data and
analytics firm ended a strategic review process in favor of its
own business plan.

Highfields, which owns about 7.6 percent of CoreLogic, said
it was “very disappointed” with the company’s decision and would
consider all its options if the company did not engage in
discussions, and changed Chief Executive Anand Nallathambi.

Feb 25, 2012

Sprint board vetoes bid to buy MetroPCS: sources

NEW YORK (Reuters) – Sprint Nextel Corp’s (S.N: Quote, Profile, Research, Stock Buzz) board vetoed a multibillion dollar purchase of smaller rival MetroPCS Communications (PCS.N: Quote, Profile, Research, Stock Buzz) at the last-minute this week, sources said, in a surprise move that could throw the future of Sprint CEO Dan Hesse into question.

Sprint’s board decided at a meeting on Wednesday against going ahead with the purchase, pulling the plug on a deal that was at least weeks in the making and expected to be announced as soon as this week, one of the sources said.

Feb 17, 2012

Exclusive: Ally weighs sale as IPO looks bleak

NEW YORK (Reuters) – Ally Financial is weighing a sale of all or part of its auto lending and banking businesses, as an initial public offering looks increasingly remote and the U.S. government seeks to recoup some $17 billion in bailout money, sources familiar with the situation said.

Ally, which is 73.8 percent owned by the U.S. government, is already in the process of selling its mortgage unit, Residential Capital, and sale of other assets could happen even as that continues, one of the sources said.

Feb 17, 2012

Ally weighs sale as IPO looks bleak-sources

NEW YORK, Feb 16 (Reuters) – Ally Financial is
weighing a sale of all or part of its auto lending and banking
businesses, as an initial public offering looks increasingly
remote and the U.S. government seeks to recoup some $17 billion
in bailout money, sources familiar with the situation said.

Ally, which is 73.8 percent owned by the U.S. government, is
already in the process of selling its mortgage unit, Residential
Capital, and sale of other assets could happen even as that
continues, one of the sources said.

Feb 12, 2012

Investor activists see little to “like” in Facebook

NEW YORK (Reuters) – A new crop of companies entering the U.S. public markets, including such high-profile offerings as Facebook, are turning the clock back on the way U.S. corporations are run.

Facebook, Groupon Inc (GRPN.O: Quote, Profile, Research), LinkedIn Corp (LNKD.N: Quote, Profile, Research), Zynga Inc (ZNGA.O: Quote, Profile, Research) and others have put in place governance provisions that go against a long-term swing towards more shareholder-friendly rules.

Feb 9, 2012

Analysis: Investor activists see little to “like” in Facebook

NEW YORK (Reuters) – A new crop of companies entering the U.S. public markets, including such high-profile offerings as Facebook, are turning the clock back on the way U.S. corporations are run.

Facebook, Groupon Inc, LinkedIn Corp, Zynga Inc and others have put in place governance provisions that go against a long-term swing towards more shareholder-friendly rules.

Feb 9, 2012

ANALYSIS: Investor activists see little to “like” in Facebook

NEW YORK (Reuters) – A new crop of companies entering the U.S. public markets, including such high-profile offerings as Facebook, are turning the clock back on the way U.S. corporations are run.

Facebook, Groupon Inc (GRPN.O: Quote, Profile, Research), LinkedIn Corp (LNKD.N: Quote, Profile, Research), Zynga Inc (ZNGA.O: Quote, Profile, Research) and others have put in place governance provisions that go against a long-term swing towards more shareholder-friendly rules.

Feb 8, 2012

Exclusive: Olympus ex-CEO plans tell-all book

NEW YORK (Reuters) – Michael Woodford, the former CEO of Olympus Corp (7733.T: Quote, Profile, Research) who blew the whistle on a $1.7 billion financial fraud, is planning to write a book about his experience uncovering the scandal at the Japanese maker of cameras and medical equipment.

The first version, in Japanese, is expected as early as June, Woodford told Reuters in an interview on Wednesday.

Feb 7, 2012

Exclusive: Facebook governance a concern for Calif pension fund

NEW YORK (Reuters) – Facebook’s corporate governance rules, which give shareholders little say in how the social networking website would be run as a public company, are raising the hackles of one of the largest U.S. investors, the California State Teachers’ Retirement System.

The pension fund, which has a portfolio valued at around $145 billion, is planning to send a letter to Facebook, hoping to engage the social networking website on corporate governance, two CalSTRS executives told Reuters in an interview on Monday.

Feb 7, 2012

Facebook governance a concern for Calif pension fund

NEW YORK, Feb 6 (Reuters) – Facebook’s corporate
governance rules, which give shareholders little say in how the
social networking website would be run as a public company, are
raising the hackles of one of the largest U.S. investors, the
California State Teachers’ Retirement System.

The pension fund, which has a portfolio valued at around
$145 billion, is planning to send a letter to Facebook, hoping
to engage the social networking website on corporate governance,
two CalSTRS executives told Reuters in an interview on Monday.