Friday, April 30, 2010

The Institutional Investor Summit - June 3-4

(Invitation-Only; Limited Seating Available)  
Contact Chris Skroupa and reference Hedge Fund Solutions for complimentary access.

Recovery Risks & Returns: A Summit on Corporate Governance for Institutional Investors 
June 3-4, 2010 
The Intercontinental Barclay
111 East 48th St
New York, NY 10017
(212) 755-5900

Click Here For More Information 

About The Summit: Recovery Risks & Returns:
A Summit on Corporate Governance for Institutional Investors is designed for pension funds, hedge fund activists and select fund managers seeking to address risk and enhance long term value through governance based solutions.

From 2007 forward, investors have experienced unprecedented losses and have begun to ask the important questions on how to best approach risk and its role in creating long term shareholder value.

As Wall Street emerges from the Great Recession, how will institutional investors create value through corporate governance?

Confirmed Speakers: 

Richard Mourdock, Treasurer
State of Indiana 

Jim Hood, Attorney General
State of Mississippi 

Richard Cordray, Attorney General
State of Ohio 

Kelly L. Schmidt, Treasurer
State of North Dakota 

Greg Zoeller, Attorney General
State of Indiana 

Mario Gabelli, Chairman & CEO
Gabelli Asset Management Company 

Bill Ackman, Founder & Managing Partner 
Pershing Square Capital Management, LP 

Inga van Eysden, Chief of the Pensions Division
New York City Department of Law 

Gregory P. Taxin, Co-founder & Managing Director
Spotlight Advisors 

George W. Neville, Special Assistant Attorney General  
State of Mississippi 

Vineeta Anand, Chief Research Analyst

Tord Carnlof, Co-founder & Senior Advisor
Ethix SRI Advisors 

Hans-Christoph Hirt, Director
Hermes Equity Ownership Services Limited 

Michael Garland, Director of Value Strategy
CTW Investment Group 

Dennis Johnson, (formerly with Shamrock Activist Value Fund)

Jody Olson, Chairman
State of Idaho Retirement Board 

Stephen L. Brown, Director & Associate General Counsel, Corporate Governance

Damien Park, Managing Partner
Hedge Fund Solutions, Inc. 

William J. Kelley, Jr., General Counsel
Retirement Systems of Alabama 

Pat McGurn, Special Counsel, Corporate Governance

Kil Huh, Director of Research
Pew Center on the States 

Douglas A. Love, Chairman Investment Policy Committee
New Jersey Investment Council 

William Fornia, Senior Vice President
Aon Consulting 

Cas Sydorowitz, CEO, Corporate Advisory

Ruth Ryerson, Executive Director/CIO
Fort Worth Employees' Retirement Fund 

Greg Kinczewski, Vice President/General Counsel
Marco Consulting 

Timothy Schoolmaster, President & Trustee
Evanston Police Pension Fund 

Carol Nolan Drake, J.D., Chief External Affairs Officer
Ohio Public Employees Retirement System 

Andrew Shapiro, President
Lawndale Capital Management LLC 

Michael D. Underhill, Chief Investment Officer
Capital Innovations, LLC 

Tom Gray, General Counsel
Teachers’ Retirement System of the State of Illinois 

Lisa Lindsley, Director
Capital Strategies AFSCME 

Timothy E. Brog, Managing Director
Locksmith Capital Management 

Jaeson Dubrovay CPA, CAIA, Partner
Advisory Aksia LLC 

Scott Zdrazil, Director of Corporate Governance
Amalgamated Bank, Long View Funds 

Tracey C. Rembert, Sustainability Analyst and Governance Advocate
Pax World Management LLC 

Ossian Ekdahl, Head of Communication and ESG
First Swedish National Pension Fund (AP1) 

Thomas Kirchner, President & Portfolio Manager
Pennsylvania Avenue

Ric Marshall, Chief Analyst
The Corporate Library 

Jared L. Landaw, COO & General Counsel
Barington Capital Group 

Brian L. Schorr, Chief Legal Officer
Trian Fund Management 

Peter Skjødt, Executive Director, Economic Affairs
Danish Insurance Association

Thursday, April 29, 2010

10 Ways a Company is Vulnerable to an Activist Shareholder

Wall Street Lawyer recently published an article on shareholder activism written by Keith Gottfreid and Barry Genkin, Partners with the law firm Blank Rome LLP.

From the article:
According to data collected by FactSet SharkRepellent, there were 137 proxy fights in 2009 compared to 125 proxy fights in 2008 and 108 proxy fights in 2007. Of the 137 proxy fights in 2009, 46 made it to a meeting or shareholder vote. In addition, in 2009, activist shareholders secured board seats at 26 companies, either as a result of a proxy fight or other form of activist campaign.
The article continues by addressing the top ten criticisms the authors have seen most often lodged against a board of directors, without regard to any ranking in frequency or importance, that relate to the board's composition, leadership, compensation and governance:
  1. Insufficient Level of Industry Expertise;
  2. Absence of Core or Necessary Competencies Among Board Members;
  3. Insufficient Level of Board Independence;
  4. Little or No Stock Ownership;
  5. Excessive Board Compensation;
  6. No Separation of the Chairman and Chief Executive Officer (CEO) Roles;
  7. Low Turnover Among Board Members;
  8. Failure to Heed the Will of Shareholders;
  9. Record of Supporting or Facilitating Its Own Entrenchment; and
  10. Failure to Hold Management Accountable.
Read the full article

Wednesday May 12, 2010 2:00PM (EST)

Summary: Each proxy season brings new shareholder activism trends that are important for every IRO and legal counsel to understand. Hear from a panel of experts on current issues and trends for this proxy season and beyond. In addition, hear about real life examples of shareholder activist situations from a leading proxy solicitation group executive and activism attorney and know what you can do to prepare your company in advance. The presentation is scheduled begin at 2.00pm to 3.00pm Eastern Time with a Question & Answer session to follow.

Click Here to Register