A director who approves the backdating of options faces at the very least a substantial likelihood of liability, if only because it is difficult to conceive of a context in which a director may simultaneously lie to his shareholders ... and yet satisfy his duty of loyalty.
Chancellor William B. Chandler III, in a Delaware Chancery Court decision allowing a shareholder derivative lawsuit to go forward against Maxim Integrated Products, based on that company allegedly backdating stock options granted to executives, thus guaranteeing that the options would be valuable.
I've now listened to and read numerous comments from the president and his allies about the marvelous qualifications of General Petraeus, the new US commander in Iraq, and no one ever asks the most obvious question in the world.
I knew it had to come to this: Seems the GOP was determined to play 109th rubberstamp no matter what....
I love stuff like this, as Chuck Barris would say, then again, I love licking a lit road flare....
Some news stories require no comment beyond the headlines and a brief summary of the stories below them.
This is a sort of expansion of my comments to Lee's piece detailing this Weyrich and his dread fear of a return of The Fairness Doctrine....
How many hours has CNN given Cindy Sheehan and her ilk in the guise of news? How many hours did ABC devote to the Abu Ghraib Prison fiasco while barely mentioning the bravery of posthumous Medal of Honor winner Corporal Jason Dunham, who threw his body on a live grenade saving the lives of perhaps a dozen of his fellow Marines? I could go on with many more examples....
Paul Weyrich, leading religious right politico, attempting to prove that mainstream media are, in effect, organs of "liberals," as part of his reasoning on why it would be a bad thing to resurrect the "fairness doctrine" for media.
Concerned about the growing divide between the rich and poor, between the well-paid and poorly-paid? Well, Fed chief Ben Bernanke has the solution: go get yourself a better education, you fool!
Apparently, it may tougher to attack Iran than may be possible, especially with The Chimpster running out of excuses...and alibi artists...
Odd how those judgmental right wing values seem fine to people who aren't the targets of the disgust, but seem kind of...wrong when the right winger becomes the target. Take Mary Cheney (please).