PITTSBURGH (AP) — Boston or the New York Rangers? To be honest, Ottawa's Daniel Alfredsson doesn't think it matters who the Pittsburgh Penguins face in the Eastern Conference finals.
The term “zombie director” refers to a board member who’s elected without the support of a majority of the shareholder votes — and their existance infuriates corporate governance watchdogs. But Cablevision reports today that two of the five candidates for the board seats to represent public investors failed to meet that threshold at yesterday’s annual meeting. Since the company only nominated five people for the openings — and there were no outside candidates — they couldn’t lose. But Bond Street Holdings’ Vincent Tese won with just 45.2% supporting him and 54.8% withholding approval. New Century Holdings’ Leonard Tow was supported by 48.2%. Another director who failed to win a majority last time — former JP Morgan Chase Managing Director Thomas Reifenheiser — barely made it above that level with 50.5% support. The results outraged New York City Comptroller John Liu who oversees the city pension funds’ 532,020 Class A Cablevision shares and had urged investors to oppose the board candidates. “Shareowners delivered a stinging rebuke to the five Cablevision directors we opposed for being ineffective and unaccountable, including majority votes against two of them,” Liu said. “Both Mr. Tese and Dr. Tow, should immediately step down. In Mr. Tese’s case, this is the third majority vote against his directorship in the past four years. Enough is enough.” Liu is running for mayor as city labor leaders allege that Cablevision CEO Jim Dolan refused to bargain in good faith ... Read More »
NEW YORK (Reuters) - The stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward path.
NEW YORK (Reuters) - A U.S-Syrian citizen accused of conspiring with jailed Russian arms dealer Viktor Bout has been extradited to New York from Australia to face charges he conspired to buy aircraft in violation of economic sanctions, federal prosecutors said on Friday.
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