Le blog de Keyvan Nilforoushan

Archive for the tag “gouvernance”

Le juste prix

The logo of Oracle Corporation
Image via Wikipedia, déjà cité ici, permet parfois aussi de remarquer des exemples de bonne gouvernance.

Par exemple, Larry Ellison, le président d’Oracle, possède des sociétés liées qui fournissent divers biens et de services à la société. Dans ce cadre, il leur a conféré un accord écrit d’alignement sur le meilleur prix de marché, et de remboursement de la différence :

“…if we present Mr. Ellison with reasonable evidence of a lower price or rate for the same goods or services offered by the related company, which would have been available to us at the time we entered into the applicable transaction, then Mr. Ellison will reimburse us for the difference.”

via Oracle’s proxy reveals tempered extravagance… |

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A la pêche

Sunset Fishing lit les publications annuelles des sociétés cotées et attire l’attention sur les informations – souvent croustillantes – remisées dans les notes de bas de page.

Celle-ci est particulièrement exceptionnelle :

During fiscal 2008, the Compensation Committee determined that maintaining a lease on a private airplane was no longer a cost-effective method for providing business-related transportation to our Named Executive Officers and Directors. The airplane was used only for business-related travel, and personal use was not permitted.

With the termination of the lease on the airplane, it also became increasingly difficult and cost prohibitive to access our Canadian fish camp. Consequently, the fish camp, which was only used for business entertainment purposes, was offered for sale during 2008.

The only offer to purchase the fish camp came from Terry L. Haines, our former Chief Executive Officer and President. Ultimately we negotiated with Mr. Haines to sell the fish camp for a purchase price of $55,000 and the transaction closed during fiscal year 2009.

via Gone fishing — seriously… |

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Coller warns of private equity ‘scandal’ and calls for greater transparency

An assortment of United States coins, includin...
Image via Wikipedia

Déjà en 2005 …

The result of the opacity of performance data across the industry was a persistence of mediocrity, [Jeremy Coller] said. ‘The private nature of private equity has allowed too much poor performance to be hidden by smoke and mirrors,’ Coller said.

He proposed four steps that fund managers should make compulsory to improve governance; a requirement for all funds to be audited by one of the big four accounting firms, the use of custodians by PE firms, no-fault divorce clauses in all limited partners agreements, and the complete abolition of deal by deal carry.

via Coller warns of private equity ‘scandal’ and calls for greater transparency.

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