Unconditional Compassion youtube
Dust on the Bottle youtube Creole Williams
Zydeco music youtube
Black Smoker discovered in caribbean
EXCERPT:
Deepest Black Smoker Discovered in Caribbean Analysis by Michael Reilly
Mon Apr 12, 2010 02:08 PM ET
6 Comments | Leave a Comment Print Email Facebook Twitter Digg Yahoo! Buzz Over three miles down in the ocean, where the Caribbean Sea's warm blue waters fade into lightless black, scientists have found something bizarre and wonderful: the deepest active hydrothermal vent system on the planet.
Worlds deepest undersea volcanic vents hydrothermal
EXCERPT:
Brian Handwerk
for National Geographic News
Published April 11, 2010
Three miles (five kilometers) below the surface of the Caribbean Sea (map), great volcanic chimneys gush subterranean water hot enough to melt lead.
Found via robotic submersibles on April 6, these two-story-tall "black smokers" are the world's deepest known hydrothermal vents, scientists announced from aboard a research ship Sunday.
"It was like wandering across the surface of another world," geochemist Bramley Murton, speaking in a press statement, said of steering a submersible around the record-breaking volcanic vents.
"The rainbow hues of the mineral spires and the fluorescent blues of the microbial mats covering them were like nothing I had ever seen before," said Murton, who, like the rest of the team, works with the U.K.'s National Oceanography Centre.
(Watch a video of hydrothermal vents.)
Louisiana Creole people
EXCERPT:
Louisiana Creole has different meanings when used in Louisiana. One refers to people of various racial backgrounds who are descended from the colonial French, Spanish, and German settlers in Louisiana. The second, referring to the citizens with an admixture of early Louisiana European ancestry, African (mostly West African or Haitian) ancestry, and Native American ancestry indigenous to Louisiana; most often called Créole.
Historically the term Creole is not exclusive to Louisiana, it is a term also used in reference to populations in the West Indies, and in South America. While these populations add to the ethnic make up of the Créoles in Louisiana, they are not used as one in the same.
Historically, the term Creole was documented by Inca Garcilaso de la Vega. In "The Inca", writing in the early 1600s, he said: "The name was invented by the Negroes... They use it to mean a Negro born in the Indies, and they devised it to distinguish those who come from this side and were born in Guinea from those born in the New World....
Gulf Oil Spill, is it a false flag operation?
EXCERPT:
IS THE VOILCANO A FALSE FLAG OP TO FORCE EVACUATE THE GULF STATES?
June 25, 2010 by Jane Burgermeister
BP, Illusion of a False Spill
By Blogger
Read more: http://www.thegic.org/profiles/blogs/asphalt-volcano-amp-bp#ixzz0rrIrZt00
June 20, 2010
The ‘disaster’ in the Gulf of Mexico is beyond a false flag; it’s an illusion. What I’m about to reveal will more than likely go by the wayside, and the charade will continue. The reason for writing this is not for attention, games, or folly, but to expose the biggest scam in the 21st century, and to relieve some aching hearts. There is no need for fear as this is a staged event. I cannot reveal my sources, they do go straight to the top, but hopefully what I write will echo inside of each person reading this as the truth.
Much of the information I present here cannot be easily verified, fast checked, or ever presented as anything, but hearsay, as they are just words of an anonymous online entity. The Government, corporations, and the people behind them have pulled out all the stops to insure the truth doesn’t come out. They are the reason why the beaches have private security contractors, insuring no one is able to gain access to the oil on shore. They are the reason the Gulf of Mexico is a no fly zone. They are the reason why the gulf states are being locked down by military. They are the reason why the well head you see is different in many videos that BP releases. Without this measure of control the illusion would fail. In this post, what I can do is provide leading evidence, or give clues to the truth; from there you can use something that has gone by the way side, common sense.
The large oil spills washing up on the shores are not from BP Deep Horizon. They are indeed from surrounding wells, that were already leaking by design. These wells can be verified through a simple online search. You’ll notice that much of the oil is actually in the form of tar. Usually tar balls; sizes of these have reached 2000+ pounds.
Press release...why US media not to get this?
EXCERPT:
This press release is intended for business journalists and analysts/investors. Please note that this release may not have been issued in every market in which GSK operates.
First pre-pandemic vaccine approved to help protect against pandemic influenza
GSK’s Prepandrix™ obtains first EU authorisation for a pre-pandemic H5N1 vaccine
Not for distribution to US Media
Issued: Monday 19 May 2008, London, UK
GlaxoSmithKline (GSK plc) announced today that the European Commission has granted a marketing authorisation for its H5N1 adjuvanted pre-pandemic vaccine, Prepandrix™, in all 27 EU member states. GSK is the first company to obtain a European licence for a pre-pandemic vaccine, thereby offering European governments the potential for protecting their population in advance or at the onset of an officially declared influenza pandemic.
Saturday, June 26, 2010
Kellogg recall -Apple Jacks, Corn Pops, Froot Loops and Honey Smacks
EXCERPT:
By Associated Press / June 25, 2010
BATTLE CREEK, Mich.
Kellogg Co. is voluntarily recalling about 28 million boxes of Apple Jacks, Corn Pops, Froot Loops and Honey Smacks cereals because an unusual smell and flavor from the packages' liners could make people ill, the company said Friday.
Photo Gallery
Mmmmmmmmm... That's a lot of meat!
Kellogg said about 20 people complained about the cereals. The company said the potential for serious health problems is low.
Consumers reported the cereal smelled or tasted waxy or like metal or soap. Company spokeswoman J. Adaire Putnam said some described it as tasting stale.
Kellogg is trying to identify the substance on the liners that's causing the problem and is offering consumers refunds in the meantime.
SpaghettiOs Recall Uh oh, 15 million pounds with undercooked meat
EXCERPT:
Washington
Campbell Soup Co. is recalling 15 million pounds of SpaghettiOs with meatballs after a cooker malfunctioned at one of the company's plants in Texas and left the meat undercooked.
Skip to next paragraph
SpaghettiOs Recall: Campbell Soup Company says it's recalling 15 million pounds of SpaghettiOs due to undercooked meat.
BusinessWire
.Enlarge . Photo Gallery
Major product recalls
.The Agriculture Department announced the recall late Thursday. Campbell spokesman Anthony Sanzio said the company is recalling certain lots of the product manufactured since December 2008 "out of an abundance of caution" because officials don't know exactly when the cooker at the Paris, Texas, plant malfunctioned. Officials believe it happened recently but aren't sure, he said.
The meatballs that went through the cooker did not get the requisite amount of heat, according to the company.
Recalled are certain lots of three varieties of the pasta product often consumed by children: SpaghettiOs with Meatballs, SpaghettiOs A to Z with Meatballs, and SpaghettiOs Fun Shapes with Meatballs (Cars).
McDonalds recall prompts House investigation of cadmium
EXCERPT:
.By Alissa Figueroa, Correspondent / June 10, 2010
The McDonald's recall of some 12 million promotional Shrek drinking glasses has prompted a congressional investigation of the prevalence of cadmium, a toxic metal, in children’s products.
Skip to next paragraph
Recent posts
06.25.10
A post wedding guide to fiscal marital bliss
06.24.10
Low mortgage rates: Time to refinance home at record low rates
06.24.10
Wimbledon longest match: How well does an 11-hour match pay?
06.24.10
Crib recall: What to do if yours is on the list
06.23.10
Landon Donovan goal: Will it bring more marketing power to US soccer?
.Related Stories
Blog: McDonalds Shrek glass recall leaves customers wondering what to do
Blog: Shrek glass recall: Toxic cadmium found on glasses
Blog: Bonus in Shrek glasses recall: $3 refund for $2 glass
.As part of the larger inquiry, Rep. Henry Waxman, chairman of the House Energy and Commerce Committee, sent the fast food giant a letter on Wednesday. The California Democrat asked company officials to reveal what measures McDonald’s takes to ensure its products don't contain hazardous materials. The letter requested that all documents pertaining to the recall be submitted to the committee.
Representative Waxman also sent a letter to ARC International North America Inc., of Millville, N.J., which produced the recalled glasses.
EXCERPT:
By Associated Press / June 25, 2010
BATTLE CREEK, Mich.
Kellogg Co. is voluntarily recalling about 28 million boxes of Apple Jacks, Corn Pops, Froot Loops and Honey Smacks cereals because an unusual smell and flavor from the packages' liners could make people ill, the company said Friday.
Photo Gallery
Mmmmmmmmm... That's a lot of meat!
Kellogg said about 20 people complained about the cereals. The company said the potential for serious health problems is low.
Consumers reported the cereal smelled or tasted waxy or like metal or soap. Company spokeswoman J. Adaire Putnam said some described it as tasting stale.
Kellogg is trying to identify the substance on the liners that's causing the problem and is offering consumers refunds in the meantime.
SpaghettiOs Recall Uh oh, 15 million pounds with undercooked meat
EXCERPT:
Washington
Campbell Soup Co. is recalling 15 million pounds of SpaghettiOs with meatballs after a cooker malfunctioned at one of the company's plants in Texas and left the meat undercooked.
Skip to next paragraph
SpaghettiOs Recall: Campbell Soup Company says it's recalling 15 million pounds of SpaghettiOs due to undercooked meat.
BusinessWire
.Enlarge . Photo Gallery
Major product recalls
.The Agriculture Department announced the recall late Thursday. Campbell spokesman Anthony Sanzio said the company is recalling certain lots of the product manufactured since December 2008 "out of an abundance of caution" because officials don't know exactly when the cooker at the Paris, Texas, plant malfunctioned. Officials believe it happened recently but aren't sure, he said.
The meatballs that went through the cooker did not get the requisite amount of heat, according to the company.
Recalled are certain lots of three varieties of the pasta product often consumed by children: SpaghettiOs with Meatballs, SpaghettiOs A to Z with Meatballs, and SpaghettiOs Fun Shapes with Meatballs (Cars).
McDonalds recall prompts House investigation of cadmium
EXCERPT:
.By Alissa Figueroa, Correspondent / June 10, 2010
The McDonald's recall of some 12 million promotional Shrek drinking glasses has prompted a congressional investigation of the prevalence of cadmium, a toxic metal, in children’s products.
Skip to next paragraph
Recent posts
06.25.10
A post wedding guide to fiscal marital bliss
06.24.10
Low mortgage rates: Time to refinance home at record low rates
06.24.10
Wimbledon longest match: How well does an 11-hour match pay?
06.24.10
Crib recall: What to do if yours is on the list
06.23.10
Landon Donovan goal: Will it bring more marketing power to US soccer?
.Related Stories
Blog: McDonalds Shrek glass recall leaves customers wondering what to do
Blog: Shrek glass recall: Toxic cadmium found on glasses
Blog: Bonus in Shrek glasses recall: $3 refund for $2 glass
.As part of the larger inquiry, Rep. Henry Waxman, chairman of the House Energy and Commerce Committee, sent the fast food giant a letter on Wednesday. The California Democrat asked company officials to reveal what measures McDonald’s takes to ensure its products don't contain hazardous materials. The letter requested that all documents pertaining to the recall be submitted to the committee.
Representative Waxman also sent a letter to ARC International North America Inc., of Millville, N.J., which produced the recalled glasses.
Friday, June 25, 2010
I hafta tell you guys that I connected with my soulmate a few days ago...... and the memories were swirling around me tonite. hmmmmmm...... I saw that Australia has a woman Prime Minister and it brought back our connections. hmmmmm.... we had friends in Australia years ago and we used to play online a lot. It was a gas and now I'm reminiscing and loving every minute of it. We used to play with the robots and we used to rofloao......... yee haaaaa and hot damn, ain't love grand!
You might be able to tell from the above message that I was feeling a rather nice sense of stuffs (a glow.........) and then I went out and listened to GASLAND 1...... Now I'm sorry to say, I'm full of anxiety and depression. I would suggest you listen to both the MP3s but for now, I think I'll go off to sleepy land and try NOT to think.
I'm still kinda sorta happy that Australia has a new PM that is a woman....... hmmmmmmm, maybe a bit optimistic to think she's on our side..... GOD, please let her be on our side.
I hafta say that I keep thinkin my brother was involved in some of this destruction as he worked for the Bureau of Reclamation for many many years and even after retirement went back in and did contract work for them for another 5-6 years???? OMG what in the world has happened to this world?
..........anyways, I'm gonna post this and then consider maybe listening to the 2nd GASLAND.
If you want to get angry, tune into GASLAND
http://www.lewrockw ell.com/quinn/ quinn31.1. html
MP3 - HBO: GASLAND PART I
MP3 -HBO: GASLAND PART II
HBO: Gasland: Home
The official website for the HBO Documentary Film Gasland, featuring videos, images, interviews, resources and schedule information.
http://www.hbo. com/documentarie s/gasland/ index.html - CachedHBO:
Gasland: Synopsis
Gasland is an HBO Documentary Films presentation of an International WOW production; a film by Josh Fox; edited by Matthew Sanchez; produced by Trish ...
http://www.hbo. com/documentarie s/gasland/ synopsis. html - Cached
Too Small To Matter
by Jim Quinn
SNIP...
This new process opened up much of the US to drilling for natural gas. Every big oil and gas company in America was falling all over themselves to buy up the land rights for drilling. Chesapeake, Encana, Cabot, etc. saw big dollar signs. This is where the story gets interesting. George Bush signed a new energy bill into law in 2005. A loophole was inserted into the bill regarding fracking. The Bush/Cheney Energy Bill exempted natural gas drilling from the Safe Drinking Water Act. It exempts companies from disclosing the chemicals used during hydraulic fracturing. Essentially, the provision took the Environmental Protection Agency (EPA) off the job. It is now commonly referred to as the Halliburton Loophole.
The industry insists that fracking is safe and does not contaminate drinking water. Why would they need an exemption from the Safe Water Drinking Act if their process doesn’t contaminate drinking water? Did the American public benefit from this loophole? The loophole benefitted Halliburton and the massive gas corporations. This jump-started a phenomenal boom in 37 states. My state of PA sits on top of the Marcellus Shale formation. Northern and Western PA are undergoing a drilling boom.
FULL REPORT:>>
http://www.lewrockw ell.com/quinn/ quinn31.1. html
------------ --------- --
POSTED AT:
http://disc. yourwebapps. com/discussion. cgi?disc= 149495;article= 130919;title= APFN
BP: Rich Fish
http://www.youtube. com/watch? v=HtfevVB5eBk&feature=channel
BP (British Petroleum) Apocalypse Oil Volcano
http://www.apfn. org/apfn/ bp.htm
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
So I dedicate these first 2 songs to sweetmanomineonline. (He told me once after 9/11 and losing someone (she went off to Afghanistan) we both loved that I made him wanna brush again. Little did we know what was in store.
The Man I Want To Be youtube
Chris Young - Gettin' You Home (Official Video) youtube
Men at work: Land down under!!!! (One of their best songs!!)youtube
Tie me Kangaroo down sport The Beatles and Rolf Harris youtube
My Boomerang Won't Come Back - Charlie Drake youtube
Julia Gillard, Australia's First Female Prime Minister; Obama Honors 'Historic Step'
EXCERPT:
The White House congratulated new Australian Prime Minister Julia Gillard Thursday "on the historic step" of becoming that country's first female head of state.
"The United States and Australia enjoy a special and productive relationship and alliance that will continue to prosper under her leadership," President Obama's press office said. "The president looks forward to working with Prime Minister Gillard across the broad range of issues on which the United States and Australia currently enjoy strong and deep cooperation and looks forward to speaking with her soon."
Gillard took the helm after Australia's ruling Labor Party ousted Prime Minister Kevin Rudd in a revolt suggesting the party did not think he could win a second term in upcoming national elections, the Associated Press said. Gillard, 48, was Rudd's deputy, but she challenged him in a surprising intra-party revolt -- and was elected by the party in an uncontested vote.
Australia has first woman Prime Minister
EXCERPT:
Australia's New Prime Minister To Face Severe Unfeminine Problems
Front page / World / Australia
25.06.2010 Source: Pravda.Ru
Pages: 12
There was a change of power in Australia. For the first time a woman (Julia Gillard) became the nation's Prime Minister. She managed to win against Kevin Rudd, the person who was regarded as perhaps the most popular head of government in the history of the country.
You might be able to tell from the above message that I was feeling a rather nice sense of stuffs (a glow.........) and then I went out and listened to GASLAND 1...... Now I'm sorry to say, I'm full of anxiety and depression. I would suggest you listen to both the MP3s but for now, I think I'll go off to sleepy land and try NOT to think.
I'm still kinda sorta happy that Australia has a new PM that is a woman....... hmmmmmmm, maybe a bit optimistic to think she's on our side..... GOD, please let her be on our side.
I hafta say that I keep thinkin my brother was involved in some of this destruction as he worked for the Bureau of Reclamation for many many years and even after retirement went back in and did contract work for them for another 5-6 years???? OMG what in the world has happened to this world?
..........anyways, I'm gonna post this and then consider maybe listening to the 2nd GASLAND.
If you want to get angry, tune into GASLAND
http://www.lewrockw ell.com/quinn/ quinn31.1. html
MP3 - HBO: GASLAND PART I
MP3 -HBO: GASLAND PART II
HBO: Gasland: Home
The official website for the HBO Documentary Film Gasland, featuring videos, images, interviews, resources and schedule information.
http://www.hbo. com/documentarie s/gasland/ index.html - CachedHBO:
Gasland: Synopsis
Gasland is an HBO Documentary Films presentation of an International WOW production; a film by Josh Fox; edited by Matthew Sanchez; produced by Trish ...
http://www.hbo. com/documentarie s/gasland/ synopsis. html - Cached
Too Small To Matter
by Jim Quinn
SNIP...
This new process opened up much of the US to drilling for natural gas. Every big oil and gas company in America was falling all over themselves to buy up the land rights for drilling. Chesapeake, Encana, Cabot, etc. saw big dollar signs. This is where the story gets interesting. George Bush signed a new energy bill into law in 2005. A loophole was inserted into the bill regarding fracking. The Bush/Cheney Energy Bill exempted natural gas drilling from the Safe Drinking Water Act. It exempts companies from disclosing the chemicals used during hydraulic fracturing. Essentially, the provision took the Environmental Protection Agency (EPA) off the job. It is now commonly referred to as the Halliburton Loophole.
The industry insists that fracking is safe and does not contaminate drinking water. Why would they need an exemption from the Safe Water Drinking Act if their process doesn’t contaminate drinking water? Did the American public benefit from this loophole? The loophole benefitted Halliburton and the massive gas corporations. This jump-started a phenomenal boom in 37 states. My state of PA sits on top of the Marcellus Shale formation. Northern and Western PA are undergoing a drilling boom.
FULL REPORT:>>
http://www.lewrockw ell.com/quinn/ quinn31.1. html
------------ --------- --
POSTED AT:
http://disc. yourwebapps. com/discussion. cgi?disc= 149495;article= 130919;title= APFN
BP: Rich Fish
http://www.youtube. com/watch? v=HtfevVB5eBk&feature=channel
BP (British Petroleum) Apocalypse Oil Volcano
http://www.apfn. org/apfn/ bp.htm
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
So I dedicate these first 2 songs to sweetmanomineonline. (He told me once after 9/11 and losing someone (she went off to Afghanistan) we both loved that I made him wanna brush again. Little did we know what was in store.
The Man I Want To Be youtube
Chris Young - Gettin' You Home (Official Video) youtube
Men at work: Land down under!!!! (One of their best songs!!)youtube
Tie me Kangaroo down sport The Beatles and Rolf Harris youtube
My Boomerang Won't Come Back - Charlie Drake youtube
Julia Gillard, Australia's First Female Prime Minister; Obama Honors 'Historic Step'
EXCERPT:
The White House congratulated new Australian Prime Minister Julia Gillard Thursday "on the historic step" of becoming that country's first female head of state.
"The United States and Australia enjoy a special and productive relationship and alliance that will continue to prosper under her leadership," President Obama's press office said. "The president looks forward to working with Prime Minister Gillard across the broad range of issues on which the United States and Australia currently enjoy strong and deep cooperation and looks forward to speaking with her soon."
Gillard took the helm after Australia's ruling Labor Party ousted Prime Minister Kevin Rudd in a revolt suggesting the party did not think he could win a second term in upcoming national elections, the Associated Press said. Gillard, 48, was Rudd's deputy, but she challenged him in a surprising intra-party revolt -- and was elected by the party in an uncontested vote.
Australia has first woman Prime Minister
EXCERPT:
Australia's New Prime Minister To Face Severe Unfeminine Problems
Front page / World / Australia
25.06.2010 Source: Pravda.Ru
Pages: 12
There was a change of power in Australia. For the first time a woman (Julia Gillard) became the nation's Prime Minister. She managed to win against Kevin Rudd, the person who was regarded as perhaps the most popular head of government in the history of the country.
Tuesday, June 22, 2010
Corporate raider has college of business at Drexel University
EXCERPT:
Bennett S. LeBow '60, '98 Hon.
Bennett S. LeBow is a 1960 graduate of Drexel University, where he earned a degree in electrical engineering. In 1998, Drexel's College of Business and Administration was named LeBow College of Business in honor of Ben's generous philanthropic contributions to Drexel University. Ben also endowed the Bennett S. LeBow Engineering Center, a state-of-the-art facility that houses Drexel's College of Engineering.
Value Investment Congress Investment
EXCERPT:
What is the Value Investing Congress?
The Value Investing Congress is the place for value investors from around the world to network with other serious, sophisticated value investors and benefit from the sharing of investment wisdom.
Our world-renowned faculty of successful investors present timely investment ideas, examine key concepts of value investing, and reflect on past misjudgments to help you become a more successful investor.
Hedge activists
EXCERPT:
Do's and don'ts for corporate raiders
Peltz got three board seats at Wendy's while Icahn fell flat in his campaign against Time Warner management. Here's a look at why.
Bennett S. LeBow at Drexel university
Focus on LeBow
Winners of Baiada Center Incubator Competition Announced
Winners of Drexel University’s LeBow College of Business Baiada Center for Entrepreneurship Incubator Competition were announced on June 2 at the Laurence A. Baiada Center for Entrepreneurship’s annual conference held at World Café Live in Philadelphia. Six teams, comprising Drexel undergraduate and graduate students and their colleagues, competed to win space in the Baiada Center Incubator and other prizes for their startup operations.
LeBow College of Business Enters Agreements With Chinese Universities
Dean George P. Tsetsekos, Ph.D., recently returned from China where he signed agreements on behalf of LeBow College with Antai College of Economics and Management at Shanghai Jiao Tong University and with Fudan University’s School of Management, both in Shanghai. These two agreements serve to formalize an exchange for students, faculty, scholars, and academic information to benefit both institutions.
ECGI Research Newsletter
EXCERPT:
Eliezer M. Fich, Bennett S. LeBow College of Business,Introduction
This, the third edition of the ECGI Research
Newsletter, focuses on the important topic of boards.
Sitting at the centre of everything a company does,
the board is also central to corporate governance.
By their nature, however, boards are diverse in
structure and conduct.
Research on this broad topic is important but
difficult mainly because empirically, it is not easy to
look inside the boardroom. What research can do is
observe the differences in board structure and
behaviour. Theorising and drawing inferences from
observable differences had led to considerable
debate.
Some of the themes of the research covered in this
newsletter are board structure and the differences
between the unitary and two tier models, the dual
role of boards as advisors and monitors, and
company and board performance in relation to
board compensation, gender diversity and the time
commitment of independent directors.
The research is given context by the views of a
leading academic, a partner in a leading executive
search firm and a director with both full-time and
independent board experience. The featured book
on corporate governance and chairmanship is by one
of the founding fathers of corporate governance, Sir
Adrian Cadbury.
The ECGI is extremely grateful to the Fédération des
Experts Comptables Européens (FEE), the
representative organisation for the accountancy
profession in Europe, for kindly agreeing to sponsor
this new initiative over the next three years in
recognition of the valuable work they believe the
ECGI is undertaking.
In this edition
• Introduction page 1
• Research digest pages 1-5
• An academic viewpoint page 5
• A practitioner viewpoint page 6
• A director’s viewpoint page 7
• Book review page 8
Research digest
Six working papers on this topic have been published by
the ECGI. The papers set out the authors’ propositions in
detail and supply the accompanying evidence. This Digest
pulls out some of the key strands from the papers which
can be downloaded from the SSRN website via the ECGI
website www.ecgi.org.
Board Models in Europe. Recent Developments of
Internal Corporate Governance Structures in Germany,
the United Kingdom, France, and Italy
Klaus Hopt, Max Planck Institute for Foreign Private and
Private International Law, Hamburg & ECGI and Patrick C.
Leyens, Max Planck Institute for Foreign Private and Private
International Law, Hamburg (Law # 018/2005)
The core problem of corporate governance is the
separation of ownership and control. In this paper the
authors start by setting the scene with an historical model,
the Verenigde Oostindische Compagnie (VOC) which helps
to explain the later concentration of both management
and control in the hands of a single board, as has been
predominant in Europe since the nineteenth century.
They then move on to look at the typical two tier board
which exists in Germany and then the unitary board model
of the United Kingdom, comparing the two separate
models and highlighting the German concept of codetermination.
Companies with 2,000 workers or more
must have half their supervisory board composed of labour
representatives. The casting vote of the chairman gives
slightly more power to shareholders but there is no doubt
that this heavy level of worker participation has caused
problems, not least the problem of raising finance on the
1
Effective Boards
european corporate governance institute
VOLUME 3 / WINTER 2006
www.fee.be
2
international capital markets. The effect of codetermination
can be to put the company into a straitjacket,
the employee representatives are very unlikely to
agree to any suggested strategy which is likely to result in
job losses, therefore foreign investors are understandably
reluctant to invest in a German co-determined company if
global markets offer alternative investments which are not
subject to co-determination.
The third part of the report sets out some reforms in France
and Italy which indicate a strong movement towards
organisational flexibility at board level and a clearer
distinction between management and control. In France, it
is already possible to have either a unitary or a two tier
board structure. The majority of French companies have
opted for the unitary structure but there is now a third
model, introduced in 2001 in the Loi Nouvelle Régulations
Economique (NRE), which still relies on the unitary
structure but separates out the role of Chair and CEO,
previously held by the Président Directeur Général.
In Italy, the Testo Unico of 1998 introduced specific rules
for listed companies. Following the traditional structure,
the company will be run by the consiglio di
amministrazione. A mandatory second board, the collegio
sindacale, will serve as an internal auditing device. The
tasks of the collegio sindacale have been extended to
include the supervision of compliance, of the
organisational structure, and the accounting system.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.
EXCERPT:
Bennett S. LeBow '60, '98 Hon.
Bennett S. LeBow is a 1960 graduate of Drexel University, where he earned a degree in electrical engineering. In 1998, Drexel's College of Business and Administration was named LeBow College of Business in honor of Ben's generous philanthropic contributions to Drexel University. Ben also endowed the Bennett S. LeBow Engineering Center, a state-of-the-art facility that houses Drexel's College of Engineering.
Value Investment Congress Investment
EXCERPT:
What is the Value Investing Congress?
The Value Investing Congress is the place for value investors from around the world to network with other serious, sophisticated value investors and benefit from the sharing of investment wisdom.
Our world-renowned faculty of successful investors present timely investment ideas, examine key concepts of value investing, and reflect on past misjudgments to help you become a more successful investor.
Hedge activists
EXCERPT:
Do's and don'ts for corporate raiders
Peltz got three board seats at Wendy's while Icahn fell flat in his campaign against Time Warner management. Here's a look at why.
Bennett S. LeBow at Drexel university
Focus on LeBow
Winners of Baiada Center Incubator Competition Announced
Winners of Drexel University’s LeBow College of Business Baiada Center for Entrepreneurship Incubator Competition were announced on June 2 at the Laurence A. Baiada Center for Entrepreneurship’s annual conference held at World Café Live in Philadelphia. Six teams, comprising Drexel undergraduate and graduate students and their colleagues, competed to win space in the Baiada Center Incubator and other prizes for their startup operations.
LeBow College of Business Enters Agreements With Chinese Universities
Dean George P. Tsetsekos, Ph.D., recently returned from China where he signed agreements on behalf of LeBow College with Antai College of Economics and Management at Shanghai Jiao Tong University and with Fudan University’s School of Management, both in Shanghai. These two agreements serve to formalize an exchange for students, faculty, scholars, and academic information to benefit both institutions.
ECGI Research Newsletter
EXCERPT:
Eliezer M. Fich, Bennett S. LeBow College of Business,Introduction
This, the third edition of the ECGI Research
Newsletter, focuses on the important topic of boards.
Sitting at the centre of everything a company does,
the board is also central to corporate governance.
By their nature, however, boards are diverse in
structure and conduct.
Research on this broad topic is important but
difficult mainly because empirically, it is not easy to
look inside the boardroom. What research can do is
observe the differences in board structure and
behaviour. Theorising and drawing inferences from
observable differences had led to considerable
debate.
Some of the themes of the research covered in this
newsletter are board structure and the differences
between the unitary and two tier models, the dual
role of boards as advisors and monitors, and
company and board performance in relation to
board compensation, gender diversity and the time
commitment of independent directors.
The research is given context by the views of a
leading academic, a partner in a leading executive
search firm and a director with both full-time and
independent board experience. The featured book
on corporate governance and chairmanship is by one
of the founding fathers of corporate governance, Sir
Adrian Cadbury.
The ECGI is extremely grateful to the Fédération des
Experts Comptables Européens (FEE), the
representative organisation for the accountancy
profession in Europe, for kindly agreeing to sponsor
this new initiative over the next three years in
recognition of the valuable work they believe the
ECGI is undertaking.
In this edition
• Introduction page 1
• Research digest pages 1-5
• An academic viewpoint page 5
• A practitioner viewpoint page 6
• A director’s viewpoint page 7
• Book review page 8
Research digest
Six working papers on this topic have been published by
the ECGI. The papers set out the authors’ propositions in
detail and supply the accompanying evidence. This Digest
pulls out some of the key strands from the papers which
can be downloaded from the SSRN website via the ECGI
website www.ecgi.org.
Board Models in Europe. Recent Developments of
Internal Corporate Governance Structures in Germany,
the United Kingdom, France, and Italy
Klaus Hopt, Max Planck Institute for Foreign Private and
Private International Law, Hamburg & ECGI and Patrick C.
Leyens, Max Planck Institute for Foreign Private and Private
International Law, Hamburg (Law # 018/2005)
The core problem of corporate governance is the
separation of ownership and control. In this paper the
authors start by setting the scene with an historical model,
the Verenigde Oostindische Compagnie (VOC) which helps
to explain the later concentration of both management
and control in the hands of a single board, as has been
predominant in Europe since the nineteenth century.
They then move on to look at the typical two tier board
which exists in Germany and then the unitary board model
of the United Kingdom, comparing the two separate
models and highlighting the German concept of codetermination.
Companies with 2,000 workers or more
must have half their supervisory board composed of labour
representatives. The casting vote of the chairman gives
slightly more power to shareholders but there is no doubt
that this heavy level of worker participation has caused
problems, not least the problem of raising finance on the
1
Effective Boards
european corporate governance institute
VOLUME 3 / WINTER 2006
www.fee.be
2
international capital markets. The effect of codetermination
can be to put the company into a straitjacket,
the employee representatives are very unlikely to
agree to any suggested strategy which is likely to result in
job losses, therefore foreign investors are understandably
reluctant to invest in a German co-determined company if
global markets offer alternative investments which are not
subject to co-determination.
The third part of the report sets out some reforms in France
and Italy which indicate a strong movement towards
organisational flexibility at board level and a clearer
distinction between management and control. In France, it
is already possible to have either a unitary or a two tier
board structure. The majority of French companies have
opted for the unitary structure but there is now a third
model, introduced in 2001 in the Loi Nouvelle Régulations
Economique (NRE), which still relies on the unitary
structure but separates out the role of Chair and CEO,
previously held by the Président Directeur Général.
In Italy, the Testo Unico of 1998 introduced specific rules
for listed companies. Following the traditional structure,
the company will be run by the consiglio di
amministrazione. A mandatory second board, the collegio
sindacale, will serve as an internal auditing device. The
tasks of the collegio sindacale have been extended to
include the supervision of compliance, of the
organisational structure, and the accounting system.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.
Watkins incorporated private company Irwin L. Jacobs
EXCERPT:
Watkins has a nose for things that are natural, soothing, and appealing to the senses. Through its apothecary, home care, and gourmet divisions, the company manufactures more than 350 natural products, including body lotions and bath salts, organic dish soaps and bathroom cleaners, and organic black pepper and vanilla extracts. Watkins, which distributes its products in the US, Canada, the UK, and the Philippines, sells through retailers such as Target, Wal-Mart, and Whole Foods, as well as through its e-commerce Web site. Owned by chairman Irwin L. Jacobs since 1978, Watkins' roots go back to the 1860s.
Where oh where have all the corporate raiders gone
EXCERPT:
Here is a look at some of the men -- there are no women in their ranks -- who with Irwin L. Jacobs helped define the decade of greed, and where they are today.
Irwin L. Jacobs
EXCERPT:
Irwin L Jacobs is an entrepreneur and the CEO of several large corporations, including Genmar Holdings, Inc. the worlds largest boat building company. He earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. He is a deal maker and bargain hunter based in Minneapolis and became wealthy by taking big stakes in Fortune 500 conglomerates, usually with the goal of unlocking value by breaking them up.
Company that bought Harley taken over in hostile takeover
EXCERPT:
In 1985 AMF became the object of a hostile takeover bid from corporate raider Irwin L. Jacob's Minstar, Inc., and the company was acquired for $563.8 million in June 1985. In the months that followed, Jacobs sold off many of the companies that comprised AMF. The bowling division, then the most profitable division of AMF, was sold to Commonwealth Venture Partners in 1986.
In 2002 AMF Bowling Worldwide is a publicly held company. It is the largest owner and operator of bowling centers in the world, with about 385 U.S. bowling centers and over 100 international bowling centers.
Goldman Sachs owns majority of AMF bowling
EXCERPT:
Investment banking firm Goldman, Sachs & Co. owns a majority interest in AMF Bowling.
Irwin L. Jacobs and airlines and Bush
EXCERPTs:
1) Shaklee received an unsolicited acquisition proposal from a group led by Irwin L. Jacobs, which has offered $40 a share, or $560 million total.
2)Eastern Airlines was struck by its machinists after President Bush declined to intervene in the dispute that threatened to cripple the nation's seventh-largest airline. The pilots' union urged its members not to cross the picket lines that went up at scores of airports shortly after midnight. [ Page 1. ] Eastern plans to contract out much of the maintenance on its planes.
European Directive fails to harmonize takeovers (hostile takeovers) cannot copy & paste must click url to read
NO EXCERPT
HarleyBot
EXCERPTS:
1) The Great Depression almost succeeded in devastating the entire motorcycle industry. Only two manufacturers survived the slump. Harley-Davidson was one of them, thanks to a strong dealer network, police and military use, and conservative business management combined with strong exports. Then, in 1941 the company answered the call to war - its entire motorcycle output supplying American and Allied forces during World War II. The Milwaukee-based production line built more than 90,000 motorcycles during the war, earning the coveted Army-Navy ‘E’ aware for excellence in wartime production.
The fifties and sixties also saw the explosion of the American motorcycle culture, with black leather jackets becoming not only a statement of fashion, but of a lifestyle. The tough ‘Wild Ones’ image, made popular by the Marlon Brando movie of the same name, labeled motorcycle enthusiasts as outlaws, even though only a tiny proportion of all motorcyclists happen to conform with such an anarchic image.
Peter Fonda (brother of Jane, son of Henry) rode into oblivion on a Harley, to the strains of Steppenwolf’s rock anthem ‘Born to be Wild’ in the infamous road movie ‘Easy Rider’. But as is so often the case, that which is portrayed in the media as bad and unacceptable, soon comes to be embraced by the very establishment which has ostracized it. As a result, modern-day rebels, such as American move stars, Bruce Willis and Michael Douglas, revel in helmetlessness weekend jaunts along Sunset Boulevard. They are joined by other members of the action movie set - Arnold Schwarzenegger and Sylvester Stallone equally enthusiastic riders of the famous marque.
And in these politically correct times, when ‘dames’ are no longer ‘the weaker sex’, such personalities as the popular yet raunchy stage performer Cher have taken to the Harley. But royalty also lays claim to a share in Harley fever, with King Juan Carlos of Spain regularly heading out towards the hills on his customized Electraglide. Thus making two kings of the road on one bike.
In 1965, Harley-Davidson ended family ownership
2)Harley-Davidsons have thus become big business.
Harley friends
EXCERPTs:
1)"I started riding at a very young age. First riding mini-bikes and mopeds and then when I went into the military buying my first motorcycle."
2)"I come from a whole family of Military servicemen. My grandfather served in the Army during WWI."
3)"After 9/11/01, our world changed and so did my perspective. My Country has always been important to me, but it became paramount on that miserable day. "
Genmar holdings
EXCERPT:
Irwin Jacobs earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. In takeover attempts, both successful and unsuccessful, of major corporations such as Pabst Brewing Co. and Kaiser Steel Corp., he earned the reputation of a corporate raider who preferred to dismantle failing enterprises rather than operate a business.
Genmar Minstar
EXCERPT:
Irv the Boat Maker
Even when he was "raiding" companies in the '80s, Irwin Jacobs was also busy building them. He's made Genmar into a $1 billion boat manufacturer.
Former corporate raider act is tough
EXCERPT:
Wait a minute. Is this the Irwin L. Jacobs, the fabled corporate raider who became conspicuously wealthy during the 1980's by buying huge chunks of troubled companies like Kaiser Steel, Walt Disney and Castle & Cooke (the parent of Dole Foods), threatening them with takeovers or management changes, and then selling out to higher bidders? Is this the man dubbed "Irv the Liquidator" for the way he dismantled companies that he did manage to buy, like the industrial and leisure-goods giant AMF Inc.? Wasn't Irwin Jacobs known for pestering powerful chief executives like Rand Araskog of ITT, whose conglomerate he wanted to break up, not underlings at obscure companies like Watkins, about what they are doing to build the business?
Mark Jacobs
EXCERPT:
Watkins has a nose for things that are natural, soothing, and appealing to the senses. Through its apothecary, home care, and gourmet divisions, the company manufactures more than 350 natural products, including body lotions and bath salts, organic dish soaps and bathroom cleaners, and organic black pepper and vanilla extracts. Watkins, which distributes its products in the US, Canada, the UK, and the Philippines, sells through retailers such as Target, Wal-Mart, and Whole Foods, as well as through its e-commerce Web site. Owned by chairman Irwin L. Jacobs since 1978, Watkins' roots go back to the 1860s.
Where oh where have all the corporate raiders gone
EXCERPT:
Here is a look at some of the men -- there are no women in their ranks -- who with Irwin L. Jacobs helped define the decade of greed, and where they are today.
Irwin L. Jacobs
EXCERPT:
Irwin L Jacobs is an entrepreneur and the CEO of several large corporations, including Genmar Holdings, Inc. the worlds largest boat building company. He earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. He is a deal maker and bargain hunter based in Minneapolis and became wealthy by taking big stakes in Fortune 500 conglomerates, usually with the goal of unlocking value by breaking them up.
Company that bought Harley taken over in hostile takeover
EXCERPT:
In 1985 AMF became the object of a hostile takeover bid from corporate raider Irwin L. Jacob's Minstar, Inc., and the company was acquired for $563.8 million in June 1985. In the months that followed, Jacobs sold off many of the companies that comprised AMF. The bowling division, then the most profitable division of AMF, was sold to Commonwealth Venture Partners in 1986.
In 2002 AMF Bowling Worldwide is a publicly held company. It is the largest owner and operator of bowling centers in the world, with about 385 U.S. bowling centers and over 100 international bowling centers.
Goldman Sachs owns majority of AMF bowling
EXCERPT:
Investment banking firm Goldman, Sachs & Co. owns a majority interest in AMF Bowling.
Irwin L. Jacobs and airlines and Bush
EXCERPTs:
1) Shaklee received an unsolicited acquisition proposal from a group led by Irwin L. Jacobs, which has offered $40 a share, or $560 million total.
2)Eastern Airlines was struck by its machinists after President Bush declined to intervene in the dispute that threatened to cripple the nation's seventh-largest airline. The pilots' union urged its members not to cross the picket lines that went up at scores of airports shortly after midnight. [ Page 1. ] Eastern plans to contract out much of the maintenance on its planes.
European Directive fails to harmonize takeovers (hostile takeovers) cannot copy & paste must click url to read
NO EXCERPT
HarleyBot
EXCERPTS:
1) The Great Depression almost succeeded in devastating the entire motorcycle industry. Only two manufacturers survived the slump. Harley-Davidson was one of them, thanks to a strong dealer network, police and military use, and conservative business management combined with strong exports. Then, in 1941 the company answered the call to war - its entire motorcycle output supplying American and Allied forces during World War II. The Milwaukee-based production line built more than 90,000 motorcycles during the war, earning the coveted Army-Navy ‘E’ aware for excellence in wartime production.
The fifties and sixties also saw the explosion of the American motorcycle culture, with black leather jackets becoming not only a statement of fashion, but of a lifestyle. The tough ‘Wild Ones’ image, made popular by the Marlon Brando movie of the same name, labeled motorcycle enthusiasts as outlaws, even though only a tiny proportion of all motorcyclists happen to conform with such an anarchic image.
Peter Fonda (brother of Jane, son of Henry) rode into oblivion on a Harley, to the strains of Steppenwolf’s rock anthem ‘Born to be Wild’ in the infamous road movie ‘Easy Rider’. But as is so often the case, that which is portrayed in the media as bad and unacceptable, soon comes to be embraced by the very establishment which has ostracized it. As a result, modern-day rebels, such as American move stars, Bruce Willis and Michael Douglas, revel in helmetlessness weekend jaunts along Sunset Boulevard. They are joined by other members of the action movie set - Arnold Schwarzenegger and Sylvester Stallone equally enthusiastic riders of the famous marque.
And in these politically correct times, when ‘dames’ are no longer ‘the weaker sex’, such personalities as the popular yet raunchy stage performer Cher have taken to the Harley. But royalty also lays claim to a share in Harley fever, with King Juan Carlos of Spain regularly heading out towards the hills on his customized Electraglide. Thus making two kings of the road on one bike.
In 1965, Harley-Davidson ended family ownership
2)Harley-Davidsons have thus become big business.
Harley friends
EXCERPTs:
1)"I started riding at a very young age. First riding mini-bikes and mopeds and then when I went into the military buying my first motorcycle."
2)"I come from a whole family of Military servicemen. My grandfather served in the Army during WWI."
3)"After 9/11/01, our world changed and so did my perspective. My Country has always been important to me, but it became paramount on that miserable day. "
Genmar holdings
EXCERPT:
Irwin Jacobs earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. In takeover attempts, both successful and unsuccessful, of major corporations such as Pabst Brewing Co. and Kaiser Steel Corp., he earned the reputation of a corporate raider who preferred to dismantle failing enterprises rather than operate a business.
Genmar Minstar
EXCERPT:
Irv the Boat Maker
Even when he was "raiding" companies in the '80s, Irwin Jacobs was also busy building them. He's made Genmar into a $1 billion boat manufacturer.
Former corporate raider act is tough
EXCERPT:
Wait a minute. Is this the Irwin L. Jacobs, the fabled corporate raider who became conspicuously wealthy during the 1980's by buying huge chunks of troubled companies like Kaiser Steel, Walt Disney and Castle & Cooke (the parent of Dole Foods), threatening them with takeovers or management changes, and then selling out to higher bidders? Is this the man dubbed "Irv the Liquidator" for the way he dismantled companies that he did manage to buy, like the industrial and leisure-goods giant AMF Inc.? Wasn't Irwin Jacobs known for pestering powerful chief executives like Rand Araskog of ITT, whose conglomerate he wanted to break up, not underlings at obscure companies like Watkins, about what they are doing to build the business?
Mark Jacobs
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