CalPERS Former CFO Charles Asubonten’s Appeal of Termination Confirms Due Diligence Failure by CalPERS; Will Board Hold CEO Marcie Frost and General Counsel Matt Jacobs Accountable?
The final chapter in CalPERS’ sorry Asubonten affair.
Read more...Category Archives: Corporate governance
Migrants, Pro-Globalization “Leftists,” and the Suffocating Middle Class
Economic migrants seek prosperity and are justified in doing so, yet they can also be seen as pawns in an international strategy that destroys the negotiating leverage of workers. The resulting contradictions potentially render conventional political classifications obsolete.
Read more...Richard Murphy: Stock Markets Look Ever More Like Ponzi Schemes
Why is it entirely sensible to regard stock markets as Ponzi schemes.
Read more...Charles Asubonten Has Left CalPERS; Los Angeles Times’ Mike Hiltzik Questions Competence of Executives
Chief Financial Officer Charles Asubonten has exited CalPERS.
Read more...How Putting Shareholders First Harms Investors, Corporations, and the Public
Why “shareholders come first,” an ideology that became widely accepted only in the last 30 years, is a poor guide for managing companies.
Read more...What Do the Jersey Elections Have to Do With Britain?
Not only is the isle of Jersey facing increasing scrutiny for its status as a notorious tax haven, especially from the UK, but populist desire for reform is surging from within as elections approach.
Read more...CalPERS CEO Marcie Frost’s Featherbedding: Seeks Further Pay Increase Despite Underfunding, Municipalities Suffering to Meet Rising Pension Bills
Why authorizing a further pay increase for CalPERS CEO Marcie Frost is indefensible, but CalPERS cronyistic board will almost certainly set that plan in motion next week.
Read more...Bank Watch: Wells Fargo Fined $1 Billion
The OCC and CFPB imposed $1 billion in fines on Wells Fargo Friday, continuing the kind and gentle treatment of bank transgressions pioneered by the previous administration.
Read more...CalPERS to Investigate CFO Charles Asubonten, But Will It Look into Misrepresentations on His Employment Application?
CalPERS has finally accepted that it needs investigate the apparent misrepresentations in recently-hired CFO Charles Asubonten’s resume and Form 700, but will the probe go far enough?
Read more...Los Angeles Times Confirms Our Reporting on CalPERS CFO Charles Asubonten’s Resume Misrepresentations; CalPERS Admits to Fabrications and Gets Defensive
The Los Angeles Times verifies and amplifies our reporting on the misrepresentations and inaccuracies in the resume that recently-hired CFO Charles Asubonten presented to CalPERS.
Read more...Why Charles Asubonten Is Not Qualified to Be Chief Financial Officer and What His Hiring Says About CalPERS
Further discussion of the mystery of how CalPERS CFO Charles Asubonten got hired.
Read more...Executive Summary: New CalPERS CFO Charles Asubonten’s Misrepresentations and Discrepancies in His Resume and Form 700
Why the hiring of Charles Asubonten as CFO of CalPERS is a serious governance lapse.
Read more...Don Quijones: After a String of Corporate Scandals and Collapses, “Big Four” Accounting Giants Face Breakup in the UK
The Big Four accounting firms desperately need to be reformed. But are UK regulators up to the task?
Read more...Elon Musk’s Two Great Virtues
Elon Musk can conjure up wonderful images of the future. In the here and now, can he even produce cars (batteries? solar panels? anything?) on schedule? What is going to happen to Tesla?
Read more...Whistleblower Woes: Retaliation
SEC makes record whistleblower award, while meanwhile an Ethics and Compliance Initiative survey reports retaliation rates for reporting of corporate misconduct have doubled.
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