February 12, 2007

Corp Fin Rejiggers Its Home Page

On Friday, Corp Fin unveiled its new home page, with the content more organized along the lines of various subject matters. Looks good, but no new substance.

My favorite is a new catch-all called “Frequently Requested Materials,” which houses two ancient items: one is 45 years old and the other is nearly 20. A more accurate label is “Old Stuff You May Never Have Heard About (But Still Has Some Value)”…

More Proxy Filings Under the New Executive Compensation Rules

The new batch of proxy filings are starting to flow, and Mark Borges blogged Friday about a handful of them. Here are a few others that aren’t noted in Mark’s blog that Bob Dow of Arnall Golden Gregory sent me:


Genuine Parts

Taragon Corp. (merger proxy – 11 NEOs!)

House Tax Measure to Omit Senate-Approved Limit on Deferred Pay

Following up on the Senate’s passage of a tax package that would include limits on nonqualified deferred compensation, as noted in the following excerpt from a Bloomberg article by Ryan Donmoyer and Vineeta Anand: “the U.S. House Ways and Means Committee will draft a tax cut for small businesses of as much as $1 billion that omits a Senate-passed penalty on employees who receive tax-deferred compensation in excess of $1 million, a congressional aide said.

The aide, who is involved in drafting the House legislation, confirmed that it wouldn’t contain the provision, a key element of an $8.3 billion measure passed Feb. 1 by the Senate. The House panel will debate its tax measure Feb. 12.

The omission is a victory for groups that opposed the Senate provision such as the Financial Services Roundtable and Financial Executives International. The deferred-pay rule was one of about a dozen revenue-raising measures designed to offset the cost of the tax cuts, which are included in legislation to increase the minimum wage for the first time in a decade. ‘This is a huge relief,” said Brick Susko, a partner in the New York law firm of Cleary Gottlieb Steen & Hamilton, who advises corporations on executive pay. “The Senate bill was misguided and not well thought out.”

The deferred-compensation provision may become a sticking point later this month when House and Senate lawmakers meet to reconcile differences between the two tax measures, possibly delaying passage of the broader minimum-wage legislation.” Here is a related Forbes’ article.