Between May and December 2008, Western Digital, one of the largest computer hard disk manufacturers in the world, experienced a severe shock*. Its stock price fell from $37.53 to $11.45. In 2009, the company reported in its proxy statement that it used discretion, as opposed to objective performance metrics, for evaluating its CEO. In …
In 1977 the United Nations decided to dedicate March 8 to women’s rights. Here in France, as in many other places, women’s rights still have some way to go. French women earn on average 25% less than men. Women are more likely to do part-time work: 82% of all part time work in France is …
Elections are upon us in Québec, with all the ensuing brouhaha and commotion. After having lived here for a few years, I have sprouted an interest in Québec, and Canadian, politics. This in spite of the fact that I cannot vote, since I am not (yet) a Canadian citizen. But then again, I am told …
Last week, Mr Romney announced his running mate, Mr Ryan, a representative from Wisconsin. Mr Ryan is known for his libertarian thinking, which has been profoundly influenced by the writings of Mrs. Ayn Rand. Mrs. Rand, who grew up in Russia, embraced egotism (and hence rejected is rival twin, altruism). Not surprisingly, her economic views …
Remember Lehman Brothers, the once stellar investment bank, now defunct? Morgan Stanley Smith Barney, the barely salvaged bank? Dexia, the former banking behemoth spanning France, Belgium, and Luxembourg, shattered into smithereens? More recently, Barclay’s Bank, one of the largest in England, has come into spotlight, and very ingloriously so. It has admitted to manipulating the …
If only we knew. Alas, an answer is difficult to come by, as the recent executive pay controversy at the Royal Bank of Scotland (RBS) illustrates. In January 2012, the CEO of RBS, Mr Stephen Hester, voluntarily renounced being paid 3.6 million shares of RBS, worth about one million pound at the time. Mr Hester’s …