A recent Rock Center for Corporate Governance at Stanford University program focused on the role of corporate boards in influencing corporate culture and assessing risk. The informative program presented current metrics for health corporate culture together with trends pointing to increasing emphasis on board’s oversight role in good governance to ensure effective ethics and compliance program.
2019 ended on a mostly consensus note. The private payroll jobs trend remained clearly healthy. The jobless rate set a new cycle low (marginally). Aggregate hours worked came in below expectations but, with productivity gains and a surge in net exports, FMI is still looking for +2.5% or so real GDP growth for 19Q4.
Co-authored with Jeff Jones, Chief Commercial and Strategy Officer for Conifer Health Solutions.
The evidence is still out but hopes are high that Japanese institutional investors focused on sustainability and corporate governance reforms can convince Japan Inc. to comprehensively embrace reforms designed to improve productivity and ultimately deliver higher returns. Corporate governance reforms, a cornerstone of Abenomics, started taking hold in 2014. Today, GPIF, the world’s largest pension scheme is among their most vocal champion in linking reforms to a holistic emphasis on long-term sustainable investment strategies.
This is a response to Marsha's piece here.
Of all my memories of Paul Volcker – I first met him in the early 1970s when we was UnderSecretary for Monetary Affairs at the US Treasury and I was editing The Banker – four are particularly persistent:
The passing of legends prompts renewed consideration of their achievements and, of times, conjures not-so-favorable comparisons to their successors. Paul Volcker, who died at 92 this week, set the standard for bold monetary policy as Fed chairman from 1979 to 1987. Taking the helm amid stubbornly high and rising inflation and lackluster trend real growth, he faced the Federal Reserve’s greatest challenge since the Great Depression. Like that earlier episode, bad decisions by his predecessors had created much of the crisis.
Co-authored with John Kerins, Director in Cain Brother’s Corporate M&A Advisory practice.