Bebchuk on Making Directors Accountable

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After a decade of soaring to unprecedented levels, executive compensation is the subject of an intense debate. In their just published “Pay without Performance: The Unfulfilled Promise of Executive Compensation,” HLS Professor Lucian Bebchuk LL.M. ’80 S.J.D. ’84 and UC Berkeley School of Law Professor Jesse Fried ’92 explore the causes and consequences of flawed compensation arrangements.

A New Development

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For 25 years, Douglas Foy ‘ 73 served as head of the Conservation Law Foundation, a New England-based environmental advocacy group whose frequent lawsuits changed the landscape of the region, literally. But now Foy has jumped from the courthouse to the State House, named by Massachusetts Gov. Mitt Romney ‘ 75 as the first chief of Commonwealth Development.

A Find on the Web

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Stacy Stern ’93 isn’t as famous as the Pets.com sock puppet. She never raised billions from venture capitalists or played foosball in the office during the height of the Internet boom. Yet in the annals of Silicon Valley, Stern can boast of a more impressive distinction: success.

A Principal with Principle

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Most law school grads who began their careers at large law firms probably remember the research assignments they received as young associates, with the long hours, the frustrating Lexis searches and the overbroad results–all for an answer that a more experienced lawyer could have found in 10 minutes.

Follow the Leader

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From his Times Square office overlooking Manhattan, Michael Hess ’65 surveyed his 38-year career from public to private law–and back again. A native New Yorker, he is now blending his experience in both areas as senior managing director at Giuliani Partners, a crisis management firm hatched in 2002 after former Mayor Rudolph Giuliani’s eight-year tenure.

Prof. Bebchuk on Shareholders’ Power

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In the Financial Times, Professor Lucian Bebchuk writes: The Securities and Exchange Commission formally proposed a rule this month that would provide shareholders with some access to the corporate ballot – the proxy card distributed to all voting shareholders. The rule would require some companies in certain circumstances to include the names of candidates nominated by shareholders who satisfy some minimum ownership requirements on the corporate ballot.