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    1. MoviePass' Parent Company Has Canceled a Long-Delayed Shareholders Vote, as it Tries Desperately to Stay on the Nasdaq

      MoviePass' Parent Company Has Canceled a Long-Delayed Shareholders Vote, as it Tries Desperately to Stay on the Nasdaq
      • MoviePass parent company, Helios & Matheson Analytics (HMNY), announced Tuesday that it had canceled a special shareholders meeting regarding a vote on a proposed 1-for-500 reverse stock split.
      • The meeting was postponed twice and then canceled because the company said it "does not expect to have the requisite stockholder votes to approve the proposed reverse stock split," according to an SEC filing...
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    2. A Healthcare Company That Fought an 18-Month Battle with an Activist Investor Just Struck a $5.7 Billion Deal to End The Fight

      A Healthcare Company That Fought an 18-Month Battle with an Activist Investor Just Struck a $5.7 Billion Deal to End The Fight

      Healthcare IT company Athenahealth reached an agreement with Veritas Capital and Elliott Management to be acquired in a $5.7 billion deal. The deal comes after a long-running push from Elliott for Athenahealth to sell itself. Under the two big investment firms, Athenahealth will be combined with Virence Health, a company Veritas acquired earlier this year. The Athenahealth saga is coming to a close...

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      Mentions: Athenahealth
    3. A Former Tesla Employee Was Charged With Embezzling $9.3 Million From the Company

      A Former Tesla Employee Was Charged With Embezzling $9.3 Million From the Company
      • A federal grand jury on Thursday charged former Tesla employee Salil Parulekar with embezzling around $9.3 million from the automaker, the Department of Justice said in a press release.
      • Parulekar, who worked in Tesla's supply management division, allegedly sent money meant for one supplier, Hota Industrial Manufacturing, to another supplier, Schwabische Automotive GmbH (SHW), in 2016 and 2017.
      • Parulekar was charged with nine counts of wire fraud and one count of aggravated identity theft...
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      Mentions: Management CEO Tesla
    4. Thoma Bravo, Apttus's New Owner, Turns to Damage Control with Partners like Salesforce and Faces Questions Over an Exec’s $26 Million 'Parachute Package'

      Thoma Bravo, Apttus's New Owner, Turns to Damage Control with Partners like Salesforce and Faces Questions Over an Exec’s $26 Million 'Parachute Package'
      • Apttus is scrambling to calm employees and partners following allegations of misconduct by its former CEO.
      • David Murphy, the chairman and interim CEO, told staff on Monday that he had to address the concerns with people like Salesforce CEO Marc Benioff.
      • But now employees have a new concern: a potential parachute package worth $26.5 million for Apttus' chief operating officer, who is himself a contentious figure at the company...
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    5. At $49 Billion Company Essilor, Employees are the Largest Shareholders — and The CEO Says That's the Best Way To Do It

      At $49 Billion Company Essilor, Employees are the Largest Shareholders — and The CEO Says That's the Best Way To Do It
      • The Essilor Group, an ophthalmics company based in France, has an employee stock ownership plan (ESOP). Its employees are its largest group of shareholders.
      • All employees, regardless of seniority, are eligible to purchase shares, and Essilor matches the investments up to a certain amount.
      • Employees can also vote on company decisions through the employee shareholder association.
      • Other companies, like Sears, have adopted ESOPs in the past — but it's not for every organization...
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      Mentions: ESOP
    6. Uber's Board Reportedly Held a 'Marathon Meeting' as it Grapples With its Ties to Saudi Arabia

      Uber's Board Reportedly Held a 'Marathon Meeting' as it Grapples With its Ties to Saudi Arabia
      • Uber's board held a "marathon meeting" last week, Bloomberg reported, as the company grapples with its ties to Saudi Arabia in the wake of Washington Post journalist Jamal Khashoggi's murder.
      • The Kingdom now reportedly owns more than 10% of the ride-hailing firm, which is eyeing an IPO as valuable as $120 billion next year...
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      Mentions: Investment CEO IPO
    7. How the CEO Behind Applebee's and IHOP Pulled off a Shocking Turnaround in Just a Year

      How the CEO Behind Applebee's and IHOP Pulled off a Shocking Turnaround in Just a Year
      • Steve Joyce has led Applebee's and IHOP on impressive comebacks since taking over as CEO of parent company Dine Brands in September 2017.
      • Since Joyce took over, the Dollarita kicked off a cheap drinks revolution at Applebee's, while IHOP redefined what it means for a campaign to go viral with its polarizing IHOb name change.
      • Joyce spoke with Business Insider last week about changing the company's culture, making comebacks, planning new brands for Dine, and much more...
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      Mentions: Technology CEO risk
    8. Citigroup Just Made a Big Decision About its Board of Directors That is Rare Across Wall Street

      Citigroup Just Made a Big Decision About its Board of Directors That is Rare Across Wall Street
      • Citigroup's board has chosen John Dugan, the former head of the OCC, to be its next chairman, according to a company statement.
      • Dugan will replace Mike O'Neill, who's leaving after hitting the mandatory retirement age of 72, on January 1.
      • The choice of Dugan rather than Citi CEO Mike Corbat, also thought to be in the running for the role, preserves a split between the chairman and CEO positions that is relatively rare across Wall Street...
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      Mentions: CEO Citigroup KKR
    9. It's Become Increasingly Clear That Alphabet, Google's Parent Company, Needs New Leadership (GOOGL, Goog)

      It's Become Increasingly Clear That Alphabet, Google's Parent Company, Needs New Leadership (GOOGL, Goog)
      • It's become increasingly clear that Alphabet needs new leadership.
      • The recent scandals and controversies and scandals at the company, most notably over its handling of sexual harassment allegations, have highlighted the shortcomings of its top leaders.
      • CEO Larry Page, for example, hasn't made a public appearance in years.
      • Behind the scenes, though, he and other top leaders have been enabling bad behavior among high-level employees, by all reports...
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    10. A $774 Billion Investment Giant is Ramping Up Calls for a Tesla Board Shakeup — One That Goes far Beyond What the SEC Wants

      A $774 Billion Investment Giant is Ramping Up Calls for a Tesla Board Shakeup — One That Goes far Beyond What the SEC Wants
      • Tesla has until the end of November to add two independent directors to its board, as per a $40 million settlement with the Securities and Exchange Commission.
      • CtW Investments and elected officials from three states are urging the company to go above and beyond the legal requirements in order to protect investors.
      • Five of Tesla's eight directors currently have close ties to CEO Elon Musk, the letter says, despite meeting the legal requirements for independence...
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    11. BlackRock CEO Larry Fink Says Within The next 5 Years all Investors will Measure a Company's Impact on Society, Government, and the Environment to Determine its Worth

      BlackRock CEO Larry Fink Says Within The next 5 Years all Investors will Measure a Company's Impact on Society, Government, and the Environment to Determine its Worth
      • BlackRock CEO Larry Fink said at the New York Times Dealbook Conference on Thursday that within five years, all investors will be using ESG (environmental, social, and governance) metrics.
      • In January, Fink wrote in his annual letter to CEOs that all companies must outline their purpose.
      • Fink explained his prediction is based on a demand from consumers and employees...
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    12. Here's Who Will Get Richer When IBM Buys Red Hat for $34 Billion

      Here's Who Will Get Richer When IBM Buys Red Hat for $34 Billion
      • IBM announced on Sunday it would acquire the open source software company Red Hat for $190 per share, for a total deal value of about $34 billion.
      • The acquisition stands to be a significant payday for Red Hat's top executives and shareholders.
      • Red Hat President Jim Whitehurst could make over $72 million from the deal.
      • Red Hat's top insTitutional shareholder, Vangaurd Group, holds Red Hat stock now valued in the deal at $3.5 billion...
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      Mentions: CEO SEC IBM
    13. Larry Ellison Slams Media's Coverage of Elon Musk and Says Tesla is his Second-Largest Investment

      Larry Ellison Slams Media's Coverage of Elon Musk and Says Tesla is his Second-Largest Investment
      • Oracle founder, CTO, and executive chairman Larry Ellison defended Tesla CEO Elon Musk during an analyst meeting on Thursday and said Tesla is his second-biggest investment, Bloomberg reports.
      • Ellison reportedly criticized media coverage of Musk, who has attracted controversy in recent months.
      • "He’s landing rockets on robot drone rafts in the ocean," Ellison reportedly said. And you’re saying he doesn’t know what he’s doing. Well, who else is landing rockets?..
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      Mentions: Investment CEO Tesla
    14. Sears Directors Tap Evercore to Examine Lormer CEO Eddie Lampert's Deals

      Sears Directors Tap Evercore to Examine Lormer CEO Eddie Lampert's Deals
      • Two Sears board directors have hired an investment bank to look into deals made by the company's former CEO Eddie Lampert before the company filed for bankruptcy.
      • The directors are questioning the ways the company separated its real-estate and Sear's businesses under Lampert's watch.
      • The directors say that doing so caused Sears to lose several valuable assets. They are consulting with the investment bank on whether Lampert's actions constituted legal actions against him...
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    15. Big Asset Managers like BlackRock are Pressuring Stock Exchanges to Limit a Growing Practice that 'Poses Danger' to Young Companies

      Big Asset Managers like BlackRock are Pressuring Stock Exchanges to Limit a Growing Practice that 'Poses Danger' to Young Companies
      • BlackRock, CalPERS and other influential governance critics are asking two stock exchanges for more fairness in voting rights.
      • A group representing funds and firms petitioned the New York Stock Exchange and NASDAQ on Wednesday to limit companies' trading if they have unequal voting structures.

      A group that represents big funds like BlackRock and the California State Teachers' Retirement System is seeking to limit what it deems unequal voting rights at public companies...

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    16. Sears is Reportedly Betting on a Lifeline From its Controversial Former CEO to Keep it From Liquidating in the Next Few Weeks

      Sears is Reportedly Betting on a Lifeline From its Controversial Former CEO to Keep it From Liquidating in the Next Few Weeks
      • Sears is about to find itself in a dire cash situation, according to court filings reported by Bloomberg.
      • The company is relying on a $300 million bailout from former CEO Eddie Lampert. Without this, it could be forced to liquidate in as soon as two weeks from now.
      • The department store has been closing stores and losing money for years. It has stayed afloat thanks to Lampert bailing it out with billions of dollars in loans through his hedge fund, ESL Investments...
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    17. Helios and Matheson Hires a Second Proxy Advisor

      Helios and Matheson Hires a Second Proxy Advisor

      The parent company of MoviePass gave another indication Thursday that it's struggling to convince shareholders to back its plan to reverse-split its stock for the second time in four months.

      Helios and Matheson, which bought a controlling stake in the subscription movie ticket service last year, has hired a second firm to help it collect investor votes, it announced..

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    18. Investors Seem to be Balking at MoviePass' Parents' Plans to Reverse Split its Stock Again — And for Good Reason

      Investors Seem to be Balking at MoviePass' Parents' Plans to Reverse Split its Stock Again — And for Good Reason
      • Helios and Matheson, the parent company of MoviePass, is seeking to boost its share price through another reverse-split of its stock.
      • Two of the major research firms that offer investors advice on shareholder votes back the reverse-split proposal.
      • Even so, investors appear dubious of it.
      • They have good reason to oppose it — it would free the company up to issue billions of new shares of stock after it's already massively diluted shareholders...
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      Mentions: Investors CEO Twitter
    19. Powerful Facebook Investors Just Co-Filed a Proposal to Take Down Mark Zuckerberg as Chairman

      Powerful Facebook Investors Just Co-Filed a Proposal to Take Down Mark Zuckerberg as Chairman
      • Four powerful institutional Facebook investors have co-filed a shareholder proposal calling for Mark Zuckerberg's dual role as CEO and chairman to be split.
      • The proposal was originally filed by activist investor Trillium Asset Management and revealed by Business Insider in July after Facebook's brutal second quarter earnings...
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    20. Tesla Says Elon Musk Plans to Buy $20 Million Worth of Stock as Soon as Possible

      Tesla Says Elon Musk Plans to Buy $20 Million Worth of Stock as Soon as Possible
      • Elon Musk plans to buy $20 million of Tesla stock, the company said in a filing Wednesday.
      • The plans were announced the day after a judge approved Tesla and Musk's settlement with the US' top stock regulator.

      Tesla CEO Elon Musk plans to buy $20 million worth of the company’s stock on the open market "during the next open trading window," the company said in a regulatory filing Wednesday...

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      Mentions: CEO Tesla lawsuit
    21. As MoviePass Investors Rage Against Management, its Parent Company has Delayed a Crucial Shareholders Meeting

      As MoviePass Investors Rage Against Management, its Parent Company has Delayed a Crucial Shareholders Meeting
      • MoviePass' parent company, Helios and Matheson Analytics, has postponed its special meeting of stockholders regarding the vote on a 1-for-500 reverse stock split to November 1.
      • The meeting was originally scheduled for Thursday.
      • MoviePass investors have voiced their displeasure with Helios and Matheson about the proposed reverse split on Twitter...
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    22. Tesla Surges After Judge Approves Elon Musk's Settlement with SEC

      Tesla Surges After Judge Approves Elon Musk's Settlement with SEC
      • Tesla rallied Tuesday morning after a judge approved CEO Elon Musk's settlement over a fraud charge.
      • The Securities and Exchange Commission sued Musk last month over allegations that he committed fraud when he said he had "funding secured" to take Tesla private.
      • All eyes are on now on the company's third-quarter earnings report later this month...
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      Mentions: CEO SEC Tesla
    23. 'I've decided to step down as CEO': Eddie Lampert sends email to Sears employees after the company files for bankruptcy (SHLD)

      'I've decided to step down as CEO': Eddie Lampert sends email to Sears employees after the company files for bankruptcy (SHLD)
      • Eddie Lampert sent an email to Sears employees on Monday announcing the company's bankruptcy filing.
      • "I’ve decided to step down as CEO," Lampert wrote. "Know that this does not change my commitment to Sears Holdings, and I will continue to be actively involved as chairman of the board of directors."
      • Lampert attributed the company's bankruptcy filing to "a difficult retail environment, unsatisfactory operating performance, and legacy liabilities impacted by historically low interest rates."...
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