Posts Tagged ‘Corporate Governance’

Corporate capture of the Co-op – and how you can stop it

by Peter Willsman.

When Sir Graham Melmoth raises concerns about what is going on at the Co-operative Group – as he did recently in the Guardian – then it is worth listening. Graham Melmoth was a highly successful Chief Executive of the Group and is the man who saved the Co-op from de-mutualisation. He is just one of […]

Big accountancy firms’ corrupt fiddles for the banks must be stopped

by Michael Meacher.

The evidence piles up that the private sector auditors of banks have manifestly failed in their duties. All the major banks received unqualified audit opinions from Deloitte & Touche, PricewaterhouseCoopers, KPMG, and Ernst & Young. Private sector auditors have a history of silence and are immersed in too many conflicts of interest. The evidence is […]

Time for Labour to speak out on corporate governance

by Michael Meacher.

Whilst the economic debate surges around austerity, recession and claims of recovery, it’s remarkable that next to nothing is being said about the flaws of corporate governance. As a result the dominant theme of shareholder value is accepted almost without question. Yet it is deeply compromised both in theory and in practice. Most obviously it […]

Cable still doesn’t get the extent of corporate greed

by Michael Meacher.

Vince Cable, to give him credit, is the one member of the Cabinet who is seriously concerned about pay extremism in the boardroom. The rest are seriously in favour of it. But the measures he has so far put in place, albeit harried at every turn by the Tory Right, will achieve little. He has […]

When are we going to stop whistleblowers being sacked?

by Michael Meacher.

So after informing the authorities in the public interest that the gas market pricing system was being rigged, Seth Freedman, an employee of ICIS Heren, a lead company in the market, has just been sacked. The man who told the public about price-fixing in the gas retail market (shades of the Libor scandal in banking) […]

Carilllion’s failure of corporate governance

by Andy Newman.

Today’s report in the Observer concerning the scandalous failure of care at the Surgicare centre in Hertfordshire, run by the services group Carillion, makes somber reading. Three deaths of patients who had been admitted for routine treatment prompted an independent report before Christmas, as the Observer recounts: the report also contained the admission that nurses […]

Glencore-Xstrata shenanigans show corporate managerial power out of control

by Michael Meacher.

The joint stock company, the foundation unit of modern capitalism, is dead. But corporate managerial capitalism is alive and kicking. Whatever the constitutional theory that shareholders are in ultimate control, this myth is daily confounded by repeated evidence of management takeover from the inside. Shareholdings have become so remote and so fragmented, and the tentacles […]

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