Tune in tomorrow for a special 75-minute webcast – “The New World of IPOs: Dissecting the JOBS Act” – and hear:
– Lona Nallengara, Deputy Director (Legal), SEC’s Division of Corporation Finance
– Steve Bochner, Partner, Wilson Sonsini Goodrich & Rosati
– Michael Kaplan, Partner, Davis Polk & Wardwell
– Dave Lynn, Editor, TheCorporateCounsel.net and Partner, Morrison & Foerster
– Joel Trotter, Partner, Latham & Watkins
Catch the audio archive for last week’s companion webcast: “JOBS Act & More: How Private Placements and Reg D Are Changing.”
Say-on-Pay: Up to 7 Failures and 35 Companies Filing Supplemental Materials So Far
Over the past week, there have been a flurry of failed say-on-pays (as Mark Borges has beaten me to the punch reporting) and the total for 2012 is now 7. As noted in our list, the latest ones are: NRG Energy (45%); Ryland Group (40%); Cooper Industries (30%); and FirstMerit Bank (47%).
The astounding news – according to the list on page 14 of Semler Brossy’s latest recap of say-on-pay results – is that 35 companies so far have filed additional soliciting material to voice displeasure with a recommendation from either ISS or Glass Lewis!
That’s an overwhelming number considering that ISS has recommended “against” only 43 companies so far (as noted on page 2)! Although the number of failed SOPs is roughly in line with last year’s results, the percentage of companies filing supplemental materials compared to negative recommendations from the proxy advisors is off-the charts…
Law School Survey Shows Tough Job Market at Large Firms
This Law.com article shows things are tough out there…although I hear deal work has really picked up so maybe things will turn around? Learn how to manage your career in our upcoming webcast: “Looking Out for #1: How to Manage Your Career.”
Our May Eminders is Posted!
– Broc Romanek