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Wasting The Corporate Waste Doctrine: How The Doctrine Can Provide A Viable Solution In Controlling Excessive Executive Compensation, Steven Clayton Caywood
Wasting The Corporate Waste Doctrine: How The Doctrine Can Provide A Viable Solution In Controlling Excessive Executive Compensation, Steven Clayton Caywood
Michigan Law Review
In the midst of the global recession of the late 2000s, there was an outcry against corporate executives and what the public deemed to be their excessive compensation. Although this anger is still featured in today's headlines, it is nothing new. In fact, excessive executive compensation complaints arose when the very concept of a corporation was still new. Most of the complaints that the public has leveled have had little effect on boards of directors' decisions. Occasionally, however the outcry is so great that the public compels a company's leadership to take action. This happened early in 2009 when American …
Is U.S. Ceo Compensation Inefficient Pay Without Performance?, John E. Core, Wayne R. Guay, Randall S. Thompson
Is U.S. Ceo Compensation Inefficient Pay Without Performance?, John E. Core, Wayne R. Guay, Randall S. Thompson
Michigan Law Review
In Pay Without Performance, Professors Lucian Bebchuk and Jesse Fried develop and summarize the leading critiques of current executive compensation practices in the United States. This book, and their highly influential earlier article, Managerial Power and Rent Extraction in the Design of Executive Compensation, with David Walker offer a negative, if mainstream, assessment of the state of U.S. executive compensation: U.S. executive compensation practices are failing in a widespread manner, and much systemic reform is needed. The purpose of our Review is to summarize the book and to offer some counterarguments to try to balance what is becoming …
Corporations-Derivative Stockholders' Suits-Standing Of Subsequent Transferee Of "Tainted Shares", L. K. Cooperrider
Corporations-Derivative Stockholders' Suits-Standing Of Subsequent Transferee Of "Tainted Shares", L. K. Cooperrider
Michigan Law Review
In a derivative suit the plaintiff, a minority stockholder, sought an accounting by officers and directors for salaries he alleged they had illegally caused the corporation to pay to themselves. The defendants' answer averred that all the alleged wrongful acts complained of occurred before the plaintiff acquired his stock, and that his vendor had acquiesced. It appeared from the record that the plaintiff's vendor had been an officer in the corporation prior to the time when the payments complained of occurred; that during his incumbency he had himself received payments similar to those in question, and that at a stockholders' …