chairman Overcoming corporate short-termism: Blackrock's chairman weighs in By webfeeds.brookings.edu Published On :: Fri, 17 Apr 2015 14:00:00 -0400 When the head of the world’s largest investment fund raises fundamental questions about U.S. corporations, we should all pay attention. In a letter earlier this week to the Fortune 500 CEOs, BlackRock Chairman Larry Fink criticized the short-term orientation that he believes shapes too much of today’s corporate behavior. “It concerns us,” he declared, that “in the wake of the financial crisis, many companies have shied away from investing in the future growth of their companies. Too many have cut capital expenditure and even increased debt to boost dividends and increase share buybacks.” And he concluded, “When done for the wrong reasons and at the expense of capital investment, [returning cash to shareholders] can jeopardize a company’s ability to generate sustainable long-term returns.” Fink is correct on all counts. In a new Brookings paper out today, University of Massachusetts economist William Lazonick states that the 454 companies listed continuously in the S&P 500 index between 2004 and 2013 used 51 percent of their earnings to buy back their own stock, almost all through purchases on the open market. An additional 35 percent went to dividends. “Buybacks represent a withdrawal of internally controlled finance that could be used to support investment in the company’s productive capabilities,” he said. This is bad for the economy in two ways. As the growth of the U.S. workforce slows dramatically, economic growth will depend increasingly on improved productivity, must of which comes from raising capital investment per worker. Failing to make productivity-enhancing capital investments will doom our economy to a new normal of slow growth. Many business leaders say that they are reluctant to make long-term investments without reasonable expectations of growing demand for their products. That brings us to the second way in which corporate short-termism is bad for the economy. Most consumer demand comes from wages. If employers refuse to share gains with their employees, growth in demand is bound to be anemic. Although he clearly cares about his country, Fink is also acting as the steward of $4.8 trillion in investments. In an article published by McKinzie earlier this month, he warns that although the return of cash to shareholders is juicing equity markets right now, investors “will pay for it later when the ability to generate revenue in the long term dries up because of the lack of investment in the future.” Unlike most other corporate leaders who express concerns about these developments, Fink is unwilling to rely on moral suasion alone. Because current incentives are so perverse, he argued, “It is hard for even the most dedicated CEO to buck this trend.” The constant pressure to produce quarterly results forces executives to go along—or risk losing their jobs. That pressure comes from investors who are, in Fink’s words, “renters, not owners, who are going to trade your stock as soon as they can pocket a quick gain.” This logic leads BlackRock’s chairman to propose changing the tax code by lengthening to three years the the period needed to qualify for capital gains treatment while taxing trading gains at an even higher rate than ordinary income for investment held less than six months. To encourage truly patient capital, the capital gains rate would be stepped down to zero over a period of ten years. We can argue the merits of this idea, and we should. But the main point should be beyond argument. We need more builders and fewer traders, more Warren Buffetts and fewer Carl Icahns. And to get them, we’re going to have to change the laws governing corporate and investor behavior. Fink has opened up a crucial debate, and it’s time for Congress and presidential aspirants to join it. Authors William A. GalstonElaine Kamarck Image Source: © Brendan McDermid / Reuters Full Article
chairman Japan’s G-7 and China’s G-20 chairmanships: Bridges or stovepipes in leader summitry? By webfeeds.brookings.edu Published On :: Mon, 18 Apr 2016 10:00:00 -0400 Event Information April 18, 201610:00 AM - 11:30 AM EDTFalk AuditoriumBrookings Institution1775 Massachusetts Avenue NWWashington, DC 20036 Register for the EventIn an era of fluid geopolitics and geoeconomics, challenges to the global order abound: from ever-changing terrorism, to massive refugee flows, a stubbornly sluggish world economy, and the specter of global pandemics. Against this backdrop, the question of whether leader summitry—either the G-7 or G-20 incarnations—can supply needed international governance is all the more relevant. This question is particularly significant for East Asia this year as Japan and China, two economic giants that are sometimes perceived as political rivals, respectively host the G-7 and G-20 summits. On April 18, the Center for East Asia Policy Studies and the Project on International Order and Strategy co-hosted a discussion on the continued relevancy and efficacy of the leader summit framework, Japan’s and China’s priorities as summit hosts, and whether these East Asian neighbors will hold parallel but completely separate summits or utilize these summits as an opportunity to cooperate on issues of mutual, and global, interest. Join the conversation on Twitter using #G7G20Asia Audio Japan’s G-7 and China’s G-20 chairmanships: Bridges or stovepipes in leader summitry? Transcript Uncorrected Transcript (.pdf) Event Materials 20160418_g7g20_transcript Full Article
chairman The halfway point of the U.S. Arctic Council chairmanship By webfeeds.brookings.edu Published On :: On April 24, 2015, the United States assumed chairmanship of the Arctic Council for a two-year term. Over the course of the last year, the United States has outlined plans within three central priorities: improving economic and living conditions for Arctic communities; Arctic Ocean safety, security, and stewardship; and addressing the impacts of climate change.… Full Article
chairman John Mackey Steps Down As Chairman of Whole Foods: Did He Jump or Was He Pushed? By www.treehugger.com Published On :: Thu, 31 Dec 2009 13:26:24 -0500 On Christmas Eve, John Mackey announced that he is stepping down as Chairman of the Board of Whole Foods. Full Article Business
chairman Groupe Renault Unveils Plans for Alpine - Groupe Renault Chairman and CEO Carlos Ghosn today announced plans for a new Alpine sports car By feedproxy.google.com Published On :: 17 Feb 2016 17:30:00 EST Groupe Renault Chairman and CEO Carlos Ghosn today announced plans for a new Alpine sports car and unveiled the Alpine Vision show car. Full Article Auto Sports New Products Services Trade show news MultiVu Video
chairman I propose 'shelter in place' approach to fight the coronavirus: Vickers Venture Partners Chairman By www.cnbc.com Published On :: Fri, 08 May 2020 04:50:29 GMT Finian Tan, Chairman of Vickers Venture Partners proposes a "shelter in place" approach to combat COVID-19, which involves asking those 50 years and above to stay at home without exception, while allowing the rest of the population to go back to business as usual, including opening of businesses and borders. Full Article
chairman Trump will make a deal with Iran if he gets re-elected, DAMAC chairman says By www.cnbc.com Published On :: Tue, 21 Jan 2020 13:43:16 GMT But Hussain Sajwani, chairman of Middle Eastern property development firm DAMAC, says he doesn't expect President Donald Trump to secure a deal in the Middle East this year. Full Article
chairman Watford chairman questions integrity of 'distorted mini-league' at neutral venues By www.theguardian.com Published On :: 2020-05-09T09:55:18Z Scott Duxbury: ‘How is there any semblance of fairness?’League would ‘bear no resemblance to the one we started’Watford have joined Aston Villa and Brighton in voicing objections to the Premier League’s plan to play out the season at neutral venues on police advice, claiming it would be unfair to relegate clubs on the basis of a competition that “bears no resemblance to the one that was started”.Sitting just above the bottom three when the league was suspended and uncomfortably aware Villa could leapfrog them if they play and win their game in hand, Watford were due to play five of their remaining nine fixtures at Vicarage Road and feel that being deprived of home advantage could affect the number of points they gather. Continue reading... Full Article Watford Football Sport Premier League
chairman The G-20 Agenda under the Russian Chairmanship By www.oecd.org Published On :: Thu, 14 Feb 2013 15:55:00 GMT In his remarks, OECD Secretary-General answers the three following questions: Where is growth going to come from? How sustainable will it be? Who is going to benefit from it? Full Article
chairman The G-20 Agenda under the Russian Chairmanship By www.oecd.org Published On :: Thu, 14 Feb 2013 15:55:00 GMT In his remarks, OECD Secretary-General answers the three following questions: Where is growth going to come from? How sustainable will it be? Who is going to benefit from it? Full Article
chairman Former BT chairman Mike Rake joins Huawei UK board By www.ft.com Published On :: Tue, 14 Apr 2020 03:00:32 GMT Appointment comes as tension rises over government decision to restrict 5G rollout Full Article
chairman HSBC job cuts, US bank results and Metro Bank chairman departs By play.acast.com Published On :: Wed, 09 Oct 2019 09:28:25 GMT Patrick Jenkins and guests discuss HSBC's cost-cutting drive, what to expect from next week's US bank results, and the departure of Vernon Hill from Metro Bank. With special guest Jordi Gual, chairman of Spain's CaixaBankContributors: Patrick Jenkins, financial editor, David Crow, banking editor, Laura Noonan, US banking editor, and Nicholas Megaw, retail banking correspondent. Producer: Fiona Symon See acast.com/privacy for privacy and opt-out information. Full Article
chairman Frontier Developments chairman sells down By www.ft.com Published On :: Thu, 07 May 2020 17:00:45 GMT Share price surges after news breaks of deal with Games Workshop Full Article
chairman Resignation of chairman Clark sparks more turmoil at UK Athletics as Adams prepares to take over By www.dailymail.co.uk Published On :: Fri, 14 Feb 2020 00:38:28 GMT The upheaval and chaos at UK Athletics intensified on Thursday night with the surprise resignation of chairman Chris Clark. Full Article
chairman European Tour hires former Premier League chairman Richard Scudamore By www.dailymail.co.uk Published On :: Thu, 20 Jun 2019 09:49:21 GMT The European Tour has hired former Premier League executive chairman Scudamore to help boost revenue from the Ryder Cup, the Financial Times reported on Thursday. Full Article
chairman Bayern chairman's brother believes club can get Man City winger Leroy Sane 'at bargain price £44m' By Published On :: Sat, 11 Apr 2020 12:52:21 +0100 Michael Rummenigge, former Bayern Munich striker, believes Sane's long-term injury and the financial impact of the coronavirus could see City lower the price or cut him off as a free transfer. Full Article
chairman Crystal Palace chairman Steve Parish calls for football's return to show country the 'new normal' By www.dailymail.co.uk Published On :: Mon, 04 May 2020 10:45:09 GMT Steve Parish has defended attempts to get the season back up and running amid the coronavirus pandemic, stressing not doing so would be a major financial blow to taxpayers and the football community. Full Article
chairman FA chairman Greg Clarke admits fans WON'T be returning to football 'any time soon' By www.dailymail.co.uk Published On :: Mon, 04 May 2020 11:08:33 GMT If the sport is to return to complete the Premier League and EFL seasons then all matches will have to be played behind closed doors to maintain social distancing measures. Full Article
chairman Premier League told to help lower league clubs by EFL chairman Rick Parry By www.dailymail.co.uk Published On :: Tue, 05 May 2020 12:02:52 GMT EFL chairman Rick Parry has pleaded for a rescue package from the Premier League with clubs financially crippled by the coronavirus crisis. He also branded parachute payments 'evil'. Full Article
chairman West Ham vice-chairman Baroness Brady in support of giving Jimmy Greaves a gong By www.dailymail.co.uk Published On :: Sun, 23 Feb 2020 22:36:26 GMT West Ham vice-chairman Baroness Brady has thrown her support behind Sportsmail's quest to see former England striker Jimmy Greaves honoured for services to football. Full Article
chairman Liverpool chairman Tom Werner urges fans to savour sublime Premier League season By www.dailymail.co.uk Published On :: Thu, 06 Feb 2020 19:49:38 GMT Liverpool chairman Tom Werner has given his view on the incredible season to date of Jurgen Klopp's men, and hopes fans are doing their all to savour every moment. Full Article
chairman Liverpool chairman 'attended secret meeting to discuss lucrative new pre-season tournament' By www.dailymail.co.uk Published On :: Tue, 11 Feb 2020 00:35:06 GMT Liverpool chairman Tom Werner reportedly attended a meeting to discuss adding more games to the club's calendar - just days after Jurgen Klopp complained about playing too many. Full Article
chairman Police called to seize two club cars worth over £100k each from ex-Charlton chairman Matt Southall By www.dailymail.co.uk Published On :: Tue, 05 May 2020 21:34:16 GMT SIMON JONES: The ugly row behind Charlton Athletic's ownership has taken another twist after police were called in to recoup two club cars from former chairman Matt Southall. Full Article
chairman Tottenham chairman Daniel Levy reveals he is 'open-minded' to playing Premier League matches abroad By www.dailymail.co.uk Published On :: Fri, 17 Jan 2020 14:51:49 GMT Tottenham chairman Daniel Levy has revealed he is open to the idea of playing Premier League matches abroad in the future and questioned English football's blackout of 3pm Saturday games. Full Article
chairman Sheffield United's vice chairman was lawyer who demanded beheading of British nurse By www.dailymail.co.uk Published On :: Fri, 17 Jan 2020 15:30:30 GMT Sheffield United's vice chairman Joseph Giansiracusa demanded Britons Deborah Parry and Lucille McLaughlin be executed in Saudia Arabia when he represented the family of their victim. Full Article
chairman Saudi's plot to turn Newcastle into a global powerhouse with PIF boss set to become Magpies chairman By www.dailymail.co.uk Published On :: Sun, 19 Apr 2020 21:09:56 GMT HELEN CAHILL - CITY CORRESPONDENT: Saudi fund boss Yasir Al-Rumayyan is in the final stages of taking over as chairman of Newcastle United, sources told Sportsmail. Full Article
chairman Agustin Pichot talks to SIR CLIVE WOODWARD about campaign to become chairman of World Rugby By www.dailymail.co.uk Published On :: Mon, 20 Apr 2020 00:07:25 GMT SIR CLIVE WOODWARD: Bill Beaumont and challenger Agustin Pichot are in the final week of their election campaign to become chairman of World Rugby. Full Article
chairman Beaumont's bid for re-election as World Rugby chairman rocked by resignation of key ally Kean By www.dailymail.co.uk Published On :: Tue, 21 Apr 2020 21:22:44 GMT Sir Bill Beaumont's campaign to be re-elected as World Rugby chairman was on a knife-edge on Tuesday night, after one of his leading supporters was dramatically ousted by the Fijian Rugby Union. Full Article
chairman Sir Bill Beaumont set to retain World Rugby chairman job as Wales become latest country to back him By www.dailymail.co.uk Published On :: Wed, 29 Apr 2020 21:41:18 GMT The Welsh Rugby Union publicly threw their weight behind Sir Bill Beaumont (left) today, backing him to retain his role as World Rugby chairman and beat rival Agustin Pichot. Full Article
chairman Sir Bill Beaumont re-elected as chairman of World Rugby after challenge from Agustin Pichot By www.dailymail.co.uk Published On :: Sat, 02 May 2020 17:19:40 GMT The 68-year-old fought off a challenge from his vice-chairman Agustin Pichot and will stay at the head of the governing body for the next four years. Full Article
chairman Sir Bill Beaumont starts second term as World Rugby chairman with club v country row By www.dailymail.co.uk Published On :: Sat, 02 May 2020 22:48:53 GMT Sir Bill Beaumont will prioritise rearranging July's Covid-19 hit Tests after narrowly beating Agustin Pichot in the elections for World Rugby chairman. Full Article
chairman SIR CLIVE WOODWARD: My 100-day plan for Beaumont after his re-election as chairman of World Rugby By www.dailymail.co.uk Published On :: Sun, 03 May 2020 21:30:46 GMT SIR CLIVE WOODWARD: There is outcry over the game's governance, smaller nations are sick of being treated like second-class citizens and this crisis is threatening financial meltdown. Full Article
chairman New World Rugby vice-chairman Bernard Laporte begs Agustin Pichot not to walk away from the sport By www.dailymail.co.uk Published On :: Mon, 04 May 2020 23:39:31 GMT EXCLUSIVE BY NIK SIMON: New World Rugby vice-chairman Bernard Laporte has pleaded with Agustin Pichot not to walk away from the sport after his 28-23 election defeat. Full Article
chairman Watford chairman questions integrity of finishing... By www.dailymail.co.uk Published On :: Sat, 09 May 2020 09:05:04 GMT The Hornets have joined Brighton and Aston Villa in making their opposition to the current `Project Restart´ plans clear. Full Article
chairman Brexit Party chairman Richard Tice announces he WILL contest the general election By www.dailymail.co.uk Published On :: Thu, 07 Nov 2019 20:59:26 GMT Brexit Party chairman Richard Tice today announced he will contest the 2019 general election as he revealed he will stand in the pro-Leave seat of Hartlepool. Full Article
chairman Tottenham fans are starting to get restless with chairman Daniel Levy By www.dailymail.co.uk Published On :: Fri, 13 Mar 2020 22:13:52 GMT Another season without a trophy, all hopes of a Champions League spot vanishing over the horizon and those of a prurient disposition looking to see how much worse it can get for Jose Mourinho. Full Article
chairman Coronavirus: Dave King steps down as Rangers chairman with investment in club put on hold By www.dailymail.co.uk Published On :: Fri, 27 Mar 2020 20:49:43 GMT Dave King confirmed on Friday he had stepped down as Rangers chairman with the South African businessman being replaced by Douglas Park, who steps into the role on an interim basis. Full Article
chairman SPORTS AGENDA: Shrewsbury's chairman suffers an identity crisis By www.dailymail.co.uk Published On :: Mon, 10 Feb 2020 08:02:12 GMT MIKE KEEGAN - SPORTS AGENDA: Sports Agenda can reveal that Liverpool decided to hand their share of the gate receipts from the drawn FA Cup tie at Shrewsbury to the League One club. Full Article
chairman Labour Party chairman Ian Lavery is 'seriously considering' leadership bid By www.dailymail.co.uk Published On :: Mon, 30 Dec 2019 12:18:00 GMT Mr Lavery is an ally of the current Labour leader, and could split senior left-wing party figures, including Mr Corbyn, who are believed to favour Rebecca Long-Bailey. Full Article
chairman Ligue 1: Nantes supporters unveil banners in protest against chairman's handling of the Ligue 1 club By www.dailymail.co.uk Published On :: Mon, 19 Aug 2019 12:50:38 GMT Banners were unveiled in the club's opening home fixture of the new season, which questioned how long manager Christian Gourcuff would survive before being axed. Full Article
chairman Ian Watmore has cleared a review into appointment as ECB chairman following Sportsmail investigation By www.dailymail.co.uk Published On :: Thu, 30 Apr 2020 22:40:11 GMT EXCLUSIVE BY MATT HUGHES: The ECB instigated a review into Watmore's appointment last week after revelations that he had been subject of an independent whistleblowing report. Full Article
chairman Karl Oyston's texts revealed the true nature of the Blackpool chairman... the club deserve a break from his obnoxious reign By Published On :: Sat, 27 Dec 2014 22:02:40 +0000 PATRICK COLLINS: Blackpool's chairman revealed his true nature for all to see in the text messages he sent to a fan, yet he still retains his place at Blackpool and the Football League. Full Article
chairman Jimmy Hill was a player, activist, manager, chairman, referee and pundit, but above all an innovator... he transformed the game and that's how he should be remembered By Published On :: Sun, 20 Dec 2015 11:05:12 +0000 PATRICK COLLINS: When his massive contribution has been adequately assessed, Jimmy Hill will be seen as one of the most significant figures in the modern history of British football. Full Article
chairman FA chairman Greg Clarke warns that football faces an economic crisis beyond our wildest imagination By Published On :: Tue, 07 Apr 2020 15:50:44 +0100 Football Association chairman Greg Clarke has urged players to settle their pay cut disputes, calling on them to 'share the pain' of the coronavirus crisis. Full Article
chairman EFL chairman reveals plans to broadcast every match to fans with games set to be behind closed doors By Published On :: Fri, 17 Apr 2020 10:57:09 +0100 EFL Chairman Rick Parry has described the coronavirus pandemic as football's most 'challenging issue' other than the two World Wars. He added that football could resume behind closed doors. Full Article
chairman EFL still set on completing the season as chairman Rick Parry sends letter to clubs By Published On :: Fri, 01 May 2020 11:54:19 +0100 In a letter to the Football League's Championship, Leagues One and League Two clubs today Parry confirmed the EFL remain in talks with the government about a return date. Full Article
chairman Premier League told to help lower league clubs by EFL chairman Rick Parry By Published On :: Tue, 05 May 2020 10:29:45 +0100 EFL chairman Rick Parry has pleaded for a rescue package from the Premier League with clubs financially crippled by the coronavirus crisis. He also branded parachute payments 'evil'. Full Article
chairman Police called to seize two club cars worth over £100k each from ex-Charlton chairman Matt Southall By Published On :: Tue, 05 May 2020 19:11:50 +0100 SIMON JONES: The ugly row behind Charlton Athletic's ownership has taken another twist after police were called in to recoup two club cars from former chairman Matt Southall. Full Article
chairman Tories begging Brexit Party candidates NOT to stand in their seats, chairman of Farage's party says By www.dailymail.co.uk Published On :: Wed, 30 Oct 2019 07:25:59 GMT There have been calls from some Brexiteers for an informal electoral 'pact' between Nigel Farage's party and the Tories. Downing Street has so far rejected the idea. Full Article
chairman Republican senator Kelly Loeffler and her CEO chairman husband sell ALL their stocks By www.dailymail.co.uk Published On :: Wed, 08 Apr 2020 19:21:18 GMT Republican Senator Kelly Loeffler of Georgia said she and her CEO husband will liquidate their stocks after weeks of criticisms for selling millions in shares during the coronavirus pandemic. Full Article