Expeditors takes on the lawyers (again)…
For the most part, being a footnoted frequent flyer is a lot like winning our annual Footnote of the Year contest: Not something sane investors should want for companies in their portfolios. And yet there’s one exception: Expeditors International of Washington (EXPD). The company’s filings are quirky, opinionated, irascible, often funny — and, most importantly, in...
Rough waters, but good pay, await CSC’s CFO…
In two days, Paul N. Saleh will show up for his first day of work as Computer Sciences Corporation’s (CSC) new CFO. Saleh is a veteran in the world of corporate finance, starting his career with giants such as The Walt Disney Co. (DIS) and Honeywell International, Inc. (HON). In recent years, though, he has...
Facebook in the filings…
You may have heard (or, perhaps read) about a company called Facebook (FB), which is going public today. For weeks now, there’s been a steady drumbeat of stories, and an even steadier drumbeat of filings. The most recent S-1, with the pricing details, was filed on Tuesday morning, making it the 8th version of the...
Everyday mediocre disclosure at Wal-Mart Stores…
This morning, Wal-Mart Stores (WMT) filed its most extensive disclosure yet about questions of corruption and bribery in its Mexico operations, but sadly, that isn’t saying much. What’s most striking about the new disclosure is that it was buried at the bottom of the 8-K that put Wal-Mart’s first-quarter earnings release on record. Somehow, though,...
Las Vegas Sands exec gets a sure deal…
There is at least one thing that the powers-that-be at Las Vegas Sands Corp. (LVS) aren’t willing to gamble on – the continued employment of Robert G. Goldstein, an Executive Vice President and the President of its Global Gaming Operations. Goldstein has been with the company for a long time. His biography in the April, 2012...
Doughnut line keeps chugging at Krispy Kreme…
There’s plenty of news on the pay, performance and corporate governance front out there today, what with JPMorgan Chase’s (JPM) annual meeting, the recent departure of Yahoo’s (YHOO) embattled chief executive, and more. Those are getting plenty of attention — and, honestly, we didn’t see a lot in recent JPMorgan and Yahoo filings that hasn’t...
Does Abercrombie’s emperor have any clothes?
It’s probably best not to think too hard about how things work at Abercrombie & Fitch (ANF) without plenty of coffee. Even then, good luck making sense of it all. The most obvious question, of course, is why a company that sells clothing features models who wear little (if any) of its fashions. We wrote about...
Putting lipstick on the pig at Chesapeake…
We were going to write about something else this morning, but then Chesapeake Energy (CHK), which as footnoted regulars know is something of a frequent flyer here, decided to file its proxy statement, so we quickly changed plans. While the company did file a preliminary proxy on April 20, there’s a lot that’s happened since...
Island living at $34 an hour, from Axis Capital…
There are all kinds of tax, regulatory and other reasons that insurance companies like to operate off the coast of the U.S. But it’s also no coincidence that some of the most popular spots for their headquarters are island get-aways like the Caymans and Bermuda. What’s more striking is the way these companies treat the...
Wendy’s pays big dough for move to Ohio…
In the ring of cities that orbits Columbus, Ohio, Dublin occupies the northwest corner, a short 25-minute drive from the state’s capital. Among its other claims to fame, it’s where The Wendy’s Co. (WEN) has its corporate headquarters. And there are close to a million reasons why it may soon become “Home Sweet Home” for...
Wal-Mart, Mexico, red flags and hindsight…
The initial buzz has faded when it comes to David Barstow’s stunning April 21 New York Times report on Wal-Mart and bribery allegations in Mexico, but from what we can tell, it still features prominently in the conversation whenever corporate-governance types gather. And there has been plenty of follow-up: a lawsuit by CalPERS, more scrutiny...
J. C. Penney’s new multi-million-dollar man…
Today’s the first day of work for Kenneth H. Hannah, the new Executive Vice President and CFO at J. C. Penney, Inc. (JCP). Although an 8-K filed May 3 noted that the giant retailer and Hannah “have not entered into an employment agreement,” the SEC filing disclosed the compensation arrangements given to Penney’s new executive, and they’re not...
