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Wednesday, 16 April 2014


Edward Hadas: Don’t bother with share-based pay

16 April 2014

Coca-Cola’s controversial share award scheme takes a bad idea to a foolish extreme. Paying workers in their employer’s paper makes no sense. The share price has too little to do with corporate performance, and the work of any single employee has little effect on the share price.

Is this the last time Yahoo's earnings matter?

15 April 2014

The company’s stagnant U.S. business plays second fiddle to its overseas holdings. Yahoo’s 24 pct stake in Alibaba accounts for almost 60 pct of its market value. The Chinese internet giant’s upcoming IPO strips investors of their biggest reason to follow the stock.

A group of workers and labor activists march down West Grand Boulevard as they demand a raise in the minimum wage for fast food workers in Detroit, Michigan May 10, 2013. Hundreds of workers in Detroit walked off the job on Friday temporarily shuttering a

Inflation still the risk in tighter US jobs market

15 April 2014

Wages represent 52 pct of GDP, and until they accelerate inflation won’t take hold. A leading think tank is even still worrying about deflation. But there are early hints that employees are beginning to regain some bargaining power. Higher prices could follow in 2015-16.

A Walgreens logo is seen outside its store in New York City

Activists' Walgreen tax push backs wrong horse

15 April 2014

Some shareholders want the pharmacy chain to move its HQ to Europe to cut its tax bill. That’d boost earnings, but fly in the face of popular sentiment and a growing official international consensus against the tactic. Investors would do better to put their weight behind reform.

Demonstrators stage a protest near the U.S. Supreme Court building, on the anniversary of the Citizens United decision, in Washington, January 20, 2012. Under the banner 'Occupy the Courts,' organizers expect thousands of people to rally on Friday at 150

Corporate speech ruling deaf to investor concerns

15 April 2014

A U.S. court says a regulation forcing firms to disclose their use of African minerals is unconstitutional. The rule’s merits aside, the opinion weakens the public’s right to good information. Given the Supreme Court’s pro-business tilt, transparency could be in real trouble.

ally financial

From Ally to Zoe's, IPOs hint at back to basics

15 April 2014

Investors had an appetite for most any new issue until last week. Six of 10 offerings couldn’t fetch the desired price and six were yanked as fear again mingled with greed. A fresh crop of sellers, including Moelis and Weibo, may encounter a more rational market than expected.

Couples perform during a Sports dance show in Pontevedra, northern Spain, January 28, 2006.

LBO shop's fancy footwork salvages Nuveen deal

14 April 2014

Madison Dearborn is getting $6.25 bln for the money manager it bought in the bubble. It should be a loss. But a mix of refinancing debt, buying a partner’s stake on the cheap and lucrative side investments helped the private equity firm break even. In this case, that’s a victory.