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Tag: Directors

Mike Ashley: Debenhams directors should take lie detector tests

Mike Ashley: Debenhams directors should take lie detector tests

Business
By John-Paul Ford Rojas, business reporter Mike Ashley's Sports Direct has accused the board of Debenhams of "falsehood and denials" and even suggested that its directors take lie detector tests, hours before a key deadline on the department store's future.Sports Direct, which owns 30% of the struggling chain, wants to install Mr Ashley as chief executive as it seeks either to refinance the business or take it over entirely. But relations between the two companies have descended into acrimony with Sports Direct suggesting that members of the Debenhams board take lie detector tests over a disputed meeting.Without a deal between the two sides by the end of Monday, the 340-year-old chain faces being placed into a pre-pack administration with lenders taking contro...
Government appoint S Gurumurthy, Satish Marathe as part-time directors on RBI board

Government appoint S Gurumurthy, Satish Marathe as part-time directors on RBI board

Finance
The government on Tuesday appointed journalist S Gurumurthy and Satish Marathe patron of Sahakar Bharathi as part-time directors on the Reserve Bank of India (RBI) board after an approval from the appointments committee of the cabinet. Both appointments are for a four year term. In a release the government said that both appointments were approved by the appointments committee of the cabinet after a proposal from the department of financial services. S Gurumurthy is currently the editor of Tamil political weekly Thuglaq and also the co-convenor of RSS affiliate Swadeshi Jagran Manch. Marathe is the patron of Sahakar Bharati an NGO furthering the co-operative moment in India. The latest appointments take the total government appointed directors on the RBI board to 10, the maximum permitted...
How boards of directors of PSU and private banks can be made more responsible

How boards of directors of PSU and private banks can be made more responsible

Finance
By M DamodaranYears ago, during an impassioned discussion on banking, especially lending practices, a friend, in a moment of excitement, coined a new word — creditability. The rest of us laughed. Recent developments seem to indicate that he was spot on. Creditability, a combination of creditworthiness and credibility, implying thereby the ability to repay and the willingness to repay, seems to have been a missing ingredient in the decision-making process in several banks. The focus of this piece is, however, not the credibility of the borrower but the credibility of bank boards. Corporate governance theory rests on the foundation that the Board of Directors is the custodian of the interests of all stakeholders. Simply stated, its role, and also its responsibility, is to keep management hon
Top Buys by Directors: Neafsey's $195.5K Bet on ARLP

Top Buys by Directors: Neafsey's $195.5K Bet on ARLP

Finance
Shutterstock photoThe directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money - maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $ 195.5K by John P. Neafsey, Director at Alliance Resource Partners LP (Symbol: ARLP). PurchasedInsiderTitleSharesPrice/ShareValue08/07/2017John P. NeafseyDirector10,000$ 19.55$ 195,500.00 Neafsey's ave...