It’s the curtain-raiser no CEO wants — especially two days before the company’s annual meeting. For former WPP chief Sir Martin Sorrell, however, the situation has been impossibly complicated by reports that his board investigated whether he used corporate funds to pay a prostitute. “This is a very problematic situation,” a proxy solicitor not retained by WPP told The Post on Monday. “If the board knew the circumstances but didn’t disclose them, it sets up a real showdown between company directors and investors.” The board’s probe of Sorrell’s possible misspending of corporate cash was first reported June 9 by The Wall Street Journal. Sorrell, 73, was seen by two unidentified colleagues entering a London address frequented by sex workers, the Financial Times reported on Monday. A Sorrell spokesman countered that advertising’s most powerful executive for decades “strenuously denies” the allegations. … [Read more...] about WPP rattled over report Martin Sorrell used corporate funds for prostitutes
At Vanguard, which popularized the S&P 500 index funds, workers will no longer be able to choose that option in their 401(k) retirement plan. The S&P 500 index fund, one of the low-cost examples of passive investing that put the firm on the investing map, will be dropped this month from the mutual fund giant’s menu of options for its employees’ 401(k) plans. Jim Boyer, who previously worked in Vanguard’s defined-contribution retirement plan division, said the overall menu of funds available are still “great, but why would the firm risk a potential lawsuit by getting away from the S&P 500 index fund in its own retirement plan?” Boyer said colleagues were upset over the removal of the S&P 500 index fund — an institutional class of shares in the fund that charged just 0.02 percent annually, making it one of the cheapest options. Vanguard pioneered the use of such low-cost funds. “This is one of the most important funds that … [Read more...] about For Vanguard employees’ own retirement fund, the firm will no longer offer its signature S&P 500 index fund
Home HomeNewsEducationHealthTechManufacturing & LogisticsLife SciencesAg INnovationINPower INnovatorsBigWigs & New GigsVideoPurchase Gerry DickGerry's ViewSpeaking Engagement RequestSubscribeNewslettersPODCASTAppRSSOn-AirTV & Radio Listings ContactAbout IIBMeet the TeamContact UsIntern with IIBFlagship Stations Allegion: Pipeline 'Robust' For $50M Corporate Venture Fund Posted: Monday, May 14, 2018 8:30 AM EDTUpdated: Monday, May 14, 2018 9:38 AM EDTBy Gerry [email protected] Rob Martens is president of Allegion Ventures. CARMEL - The president of a recently-launched corporate venture fund says early interest is strong and includes conversations about innovation in central Indiana. Ireland-based Allegion PLC (NYSE: ALLE), which has its North American headquarters in Carmel, launched the $50 million fund in March, targeting innovation in the security industry. "We've had well over 50 companies that we've had conversations with, (and) some … [Read more...] about Allegion: Pipeline ‘Robust’ For $50M Corporate Venture Fund
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)Raymond Fisman, Boston University(THE CONVERSATION) Over the past few years, I have teamed up with fellow economists Marianne Bertrande, Matilde Bombardini and Francesco Trebbi to look into one underappreciated way that businesses may attempt to influence politicians: corporate philanthropy. × Advertisement We found that what we call “politically linked charities” get more money from corporate foundations in general. We also find that when politicians gain leverage on issues tied to a company’s interests, charities in their districts get more gifts from that company’s foundation. For example, a nonprofit is more than four times more likely to receive grants from a corporate foundation if a politician sits on its board.This means, in our view, that some corporate giving may influence members of Congress in both major political parties to a … [Read more...] about Spotting the political calculus behind some acts of corporate charity
Last Updated Jul 26, 2011 1:58 PM EDT One of our BAM Advisor Services clients requested we look at the Payden/Kravitz Cash Balance Plan Fund (PKCBX). I asked Kevin Grogan, my Right Financial Plan co-author, to provide his thoughts. The fund is designed to be used by cash balance plans -- a defined benefit retirement plan that maintains hypothetical individual employee accounts like a defined contribution plan. The employees' accounts earn a fixed rate of return that can change from year to year. PKCBX's objective is to outperform the 30-year US Treasury Yield (a common interest crediting rate for cash balance plans). The firm's Web site states the fund targets consistent return and seeks to minimize risk and avoid financial surprises. Let's take a quick look at some of the fund's characteristics and see if this is an accurate picture. The fund isn't invested 100 percent in fixed income. In fact, it's roughly 10 percent equities and 90 percent fixed income. The fund has 35 percent … [Read more...] about Is the Payden/Kravitz Cash Balance Plan Fund a Good Investment Vehicle?