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Showing posts with the label DealBook | DealB%K Today's Headlines

DealBook | DealB%K Today's Top Headlines: 'Tainted,' but Still Serving on Corporate Boards

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Tuesday, April 24, 2012 TODAY'S TOP HEADLINES   Top Story 'Tainted,' but Still Serving on Corporate Boards David M. Poppe, who manages money for the Sequoia Fund, knew he was taking an unusual step when he sat down a little over a week ago to write a letter to his investors, Andrew Ross Sorkin writes in his DealBook column. His letter, which he wrote with his partner, implored his firm's investors to vote against the re-election of one of Goldman Sachs's most prominent board members, James A. Johnson, a former chief executive of Fannie Mae. Mr. Poppe characterized Mr. Johnson's tenure as being "at the center of several egregious corporate governance debacles." Mr. Johnson also is a board member of Target, and Mr. Poppe also advises his investors to vote against his re-election if he is nominated again. It may be surprising that the former chief of Fannie Mae still remains the director of a public company as prominent

DealBooK | DealB%K Today's Top Headline's: Dewey & LeBoeuf Considers Prepackaged Bankruptcy

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Friday, April 20, 2012 TODAY'S TOP HEADLINES TOP STORIES Dewey & LeBoeuf Considers Prepackaged Bankruptcy Dewey & LeBoeuf is contemplating a prearranged bankruptcy filing, in which the ailing law firm would reach an agreement with its creditors over a reorganization plan while simultaneously combining with another firm, according to a person with direct knowledge of the plan who requested anonymity because he was not authorized to discuss it publicly. Such a filing, called "prepackaged" bankruptcy, tends to be shorter in duration than a traditional Chapter 11 bankruptcy filing and could spare the firm time and potential legal headaches. The move could also help the firm avoid a painful liquidation and dissolution. DEALBOOK » Threat of Credit Downgrade Persists for Morgan Stanley Morgan Stanley's rebuilding efforts are starting to take hold, as it posted one of its strongest quarters since the financial crisis. The