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  Thursday, 17 Mar 2011 | 4:22 PM ET

'Good' Corporate Governance and the Unbent Spoon

Posted By: John Carney
ballot_box_lock_200.jpg
Peter Dazeley | Getty Images

Whenever I critique efforts to legislate for proxy access or other measures designed to make corporate governance more democratic, I inevitably get attacked for being a shill for management.

A gentler form of that attack came recently from Nell Minow, board member of GovernanceMetrics International and a film critic for Belief.Net. (Full disclosure: that sounds like a pretty sweet combination of jobs to hold.)

In response to one of my semi-regular diatribes against shareholder democracy, Minow writes:

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  Thursday, 17 Mar 2011 | 4:15 PM ET

Will the Jury Believe Anil Kumar's Testimony Against Raj Rajaratnam?

Posted By: Courtney Comstock and Katya Wachtel, Business Insider
Raj Rajaratnam co-founder of the Galleon Group hedge fund.
Getty Images
Raj Rajaratnam co-founder of the Galleon Group hedge fund.

There are two different ways the jury can take Anil Kumar's testimony, which finished yesterday.

The final argument between the defense and Kumar, the prosecution's witness, basically sums it up.

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  Thursday, 17 Mar 2011 | 3:32 PM ET

Why Shareholders Don’t Want Shareholder Democracy

Posted By: John Carney
union_vote_200.jpg
S Sherman | Hulton Archive | Getty Images

Have you ever noticed how few public companies are run on anything like a democratic basis?

They have some of the trappings of democracy. Elections for directors; ballots on important—and sometimes unimportant—questions of corporate governance or strategy; investor meetings that sometimes resemble a New England townhall.

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  Thursday, 17 Mar 2011 | 2:35 PM ET

What Not to Do: A President's Guide

Posted By: Ash Bennington
President Jimmy Carter leaving Three Mile Island for Middletown, Pennsylvania April 1,1979.
National Archives
President Jimmy Carter leaving Three Mile Island for Middletown, Pennsylvania April 1,1979.

"The challenges, on a global scale, are considerable: A nuclear power disaster; concerns about anemic growth and inflation; Middle Eastern discord; oil supply worries."

When I wrote that, earlier today, the irony hadn't yet fully occurred to me—especially in the context of advice to a president .

If the plotline of this movie sounds familiar that's because it is. The original melodrama is set in 1979—the power plant is Three Mile Island, and the president is Jimmy Carter. And the precedent for a remake isn't a favorable one.

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  Thursday, 17 Mar 2011 | 2:20 PM ET

Where is Our President?

Posted By: Ash Bennington
obama_signing_stim1.jpg

If you happen to see our president tell him this: Now might be a good time to put together a little soirée in the East Room of the White House—just to let the folks hear your voice and to let them know you're still at the helm.

Because your countrymen are getting restive.

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  Thursday, 17 Mar 2011 | 12:11 PM ET

How Twitter and Instant Messaging Make You a Better Trader

Posted By: John Carney
Twitter
Loic Venance | AFP | Getty Images
Twitter

Instant messaging and twitter may allow traders to be more profitable than when they work alone or under centralized command.

A new study by a team at the Kellogg School of Management found that internet tools that allow traders to collectively process information without central coordination can increase trading profits.

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  Thursday, 17 Mar 2011 | 11:29 AM ET

Mark Zandi: No Global Impact From Japan

Posted By: Lori Ann LaRocco
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The emotional investor roller coaster is on hyperdrive as the nuclear situation in Japan remains unknown. With 2011 gains wiped out and now the Yen soaring the markets wait to see if the central banks will intervene.

With all these questions weighing on the markets, I asked Mark Zandi, Chief Economist at Moody's Analytics to offer us his insight.

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  Thursday, 17 Mar 2011 | 10:20 AM ET

How Bad Can It Get in Japan?

Posted By: John Carney
An official in a full radiation protection suit scans an evacuated elderly woman with a geiger counter to check radiation levels in Koriyama city in Fukushima prefecture.
AFP | Getty Images
An official in a full radiation protection suit scans an evacuated elderly woman with a geiger counter to check radiation levels in Koriyama city in Fukushima prefecture.

Ever since the nuclear plants began deteriorating in Japan, there's been no shortage of coverage in the media. But it's been very hard to find anything on the bottom line: how bad could this get? If everything goes wrong, if we get multiple meltdowns, what happens? What's the worse case scenario?

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  Thursday, 17 Mar 2011 | 9:16 AM ET

LIBOR Probe Widens!

Posted By: Ash Bennington
NN_morning_call_200.jpg

Aid Groups Temper Their Contribution Aid groups say Japan, one of the world's wealthiest nations, has the ability to deal with the disaster's aftermath on its own [Wall Street Journal]

Japanese helicopter-dumping water on reactor — in what some see as a Hail Mary pass to avert disaster. [CNBC]

Expats flea Bahrain amid chaos. [CNBC]

LIBOR probe widens! [CNBC via FT]

Yen approaches all time high. [Reuters]

Calls for 'bank holiday' in Japan.

[Reuters | Hat Tip: ZeroHedge]

Fukushima's Heroes . [NY Post]

An analysis of mortgage fraud settlement—and how it may benefit the banks. [DealBook via ProPublica]

»Read more
  Thursday, 17 Mar 2011 | 9:11 AM ET

Waking up With Nicole Lapin

Posted By: Nicole Lapin
lapin_waking_up_200.jpg

Don't wear green, it's cheesy. And don't kiss people you know, it's creepy. Just carry like any other Friday eve:

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About NetNet

  • NetNet is where you'll find the low-down and the high jinks of Wall Street. It's the place for insider stories, trader gossip, and tales of the foibles of the moneyed crowd and the culture of finance.Wall Street news and commentary served fresh all day long.

 

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.