Whats the latest on any legislation regarding corporate governance?
Do you watch that closely? There was talk of making managers more accountable for earnings reports, etc. A: The two most exciting pieces of regulation and legislation just came through. One was the Sarbanes-Oxley bill that just passed Congress. And the other is the new standards for listing that the NYSE put into effect recently. What to watch for is the implementation of the legislation and the standards. There has already been controversy about the appointment of the chair of the new accounting board that’s being created by the bill. And there’s a need to make sure they really are good, responsible people appointed to these positions. We will watch out for the interests of the small investors. The NYSE standards are quite good. We made a huge leap forward in terms of director independence and disclosure. It will take work for them to be implemented. And we need to see how that happens. Q: Do you stay away from companies that do not list their stock options as an expense? A: This has
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