In the latest survey by the Tax Foundation, Illinois ranked 36th in the nation in the favorability of its climate for business, well behind neighboring Indiana (No. 10), Michigan (13), Missouri (14) and Kentucky (23). That dismal outcome seems to have some legislators in Springfield wondering not how to do better at attracting business, but how to do worse...
Should publicly owned companies in Illinois be required by law to include minorities on their boards of directors ? A polarized debate on this question ...
An Australian telecom executive, the leader of a cosmetics company, and the former finance chief of Elon Musk 's solar-power company are now in charge of deciding Tesla Inc. 's fate. The board of the electric-car maker formed a special committee to evaluate its chief executive officer's proposal to take the company private, a day after he revealed more on who will advise him and help fund the potential deal.
Former Mexico President Vicente Fox, who calls himself a soldier in the global campaign to legalize marijuana, is joining the board of directors of venerable cannabis publication High Times to advance his agenda. Speaking with The Associated Press about his views on cannabis and his new appointment, Fox said he foresees a day when a robust legal marketplace will produce new jobs and medicines while sharply reducing cartel violence in his home country...
(Peter Holley) Nearly 25 percent of State Street's 80 senior-most executives are women. While that's less than the roughly 30 percent of senior executives in the finance industry overall, the firm aims to increase its percentage of senior vice presidents to 36 percent within five years. "When we placed the statue, we knew it would shine a light on our organization and our gender diversity and we were prepared," Blake said...
"In order to bring even more focus and urgency to these important points, the USOC board of directors has mobilized a board-level working group chaired by independent board member Susanne Lyons. Susanne can be reached at susanne.lyons@usoc.org. "Finally, I invite any member of Team USA to ...
Corporate board members are facing more challenges from outside forces, ... Because board members say that's one of the new business realities, ... to say they want to add women and minorities to their corporate governance mix...
In 1998, about half of all private-sector employers in the United States offered newly hired workers a defined-benefit pension for their retirement. By 2015, that percentage dropped to just 5% , according to the consulting firm Willis Towers Watson. Nearly all private-sector workers now make do with a 401(k) plan — and the average 401(k) balance is roughly $95,000, which comes nowhere close to what the typical American will require in their sunset years...
The Financial Stability Oversight Council said late Friday it had voted 6-3 to rescind the designation that AIG could pose a threat to the U.S. financial system if it faced financial distress in the future. Treasury Secretary Steven Mnuchin and Federal Reserve Chair Janet Yellen both supported the move...
Stephen Sanger, the chairman of Wells Fargo & Co., will step down from the board of the embattled bank effective Jan. 1 and will be replaced by former Federal Reserve official Elizabeth A. “Betsy” Duke, the bank announced Tuesday. Two other long-serving directors, Cynthia H. Milligan and Susan G. Swenson, also will retire at the end of this year...
President Barack Obama's former top White House adviser Valerie Jarrett has been appointed to the board of directors of Chicago-based Ariel ...
A new report is out and it chronicles one of corporate America's oldest epic fails: An inability to fill major corporate boards with more women and minorities — the very groups that are increasingly becoming consumer, commercial and social powerhouses...
Trian Partners, the firm of Nelson Peltz, who serves on the board of directors for Mondelez, sold about 3.9 million shares of Mondelez stock this week, valued at about $167.6 million. Trian still owns about 44 million shares and remains one of the largest Mondelez shareholders ...
Companies with the highest percentage of female directors have been shown to outperform on equity, return on sales and return on invested capital. They pay less to gobble up other firms. They have lower stock price volatility. And those with more women at the top have even been shown to have fewer governance controversies, such as bribery and fraud...
Clawing back bankers' pay at Wells Fargo harder than it looks Caleb Melby and Yalman Onaran, (c) 2016, Bloomberg (c) 2016, Bloomberg Members of the Senate Banking Committee are demanding that Wells Fargo claw back pay from Carrie Tolstedt, the executive whose community banking unit created 2 million unauthorized customer accounts. They're not likely to get as much as they want. At a hearing in Washington on Tuesday, senators cited figures eclipsing $100 million...
Kapoor, who joined Morningstar as a data analyst in 1997 and has been president since October 2015, also will join Morningstar's board of directors ...
Amazon.com, Alphabet and Facebook have upended the establishments in retailing, advertising and media -- so it may not come as a surprise that their pay plans are unusual too. The three set themselves apart from other Standard & Poor's 500 Index companies by paying bosses almost exclusively in stock grants that are free from any links to performance goals ...
The acting CEO of Chicago-based United Continental Holdings, parent of United Airlines, will receive $100,000 per month in additional compensation in his interim role, the airline has said. United appointed Brett J. Hart, the company's executive vice president and general counsel, as acting CEO...
Like many United fliers in recent years, Oscar Munoz was recently on a lousy flight to Chicago. It was Labor Day, just after his daughter got married and just before he took over as CEO of the airline. He was in the seat he always seems to get, 22A, on a cramped 50-seat regional jet. Two people...
A longtime member of McDonald's board of directors retired Monday due to "health reasons," McDonald's said on Thursday. Roger Stone, 80, had been on McDonald's board since 1989. Stone is also the chairman and chief executive of Northbrook-based Kapstone Paper and Packaging, a maker of unbleached kraft paper and corrugated products...
A group that advises a small portion of McDonald's shareholders says the company's board needs a makeover as much as the menu...
Corporate board members! They just keep getting older. The average age of independent directors at Standard & Poor's 500 companies has risen to 63.1 today from 60 in 1998, according to the executive search firm Spencer Stuart. What piqued my interest in ...
Corporate board members! They just keep getting older. The average age of independent directors at Standard & Poor's 500 companies has risen from 60 in 1998 to 63.1 today, according to the executive search firm Spencer Stuart. What piqued my interest ...
