McCuistion TV Panel Discussion: Government’s Response to Corporate Governance Crisis
Recently, our friends at McCuistion hosted a roundtable discussion with an esteemed group of panelists that centered on the government’s response to the corporate governance crisis that we’ve seen in recent years.
Hosted, as always, by Dennis McCuistion, the panel discussion included Edward Durkin, Francis Byrd, and Robert Royer.
Below is an excerpt from the description of the program:
The discussion on corporate governance focuses on what Government has done thus far and what it is likely to do.
Robert Royer tells us of the mood in Congress and that it (Congress) “is fashioning a broad yet specific approach to the problems of meltdown.” He informs us that there has been some legislation produced by the Administration and the House Banking Committee while while the Senate Banking Committee has been fairly quiet throughout the process. The two banking committees, House Financial Services and the Senate, are “the two principle engines of any change that might take place in this area.”
Ed Durkin tells us about unions, their funds, and how they impact our economy, while Dennis reminds us that union pension funds are huge, saying that “People think of unions, from a ‘40-’50’s perspective.” Durkin addresses this issue by discussing that Unions were the first to put in place employment pension funds.
He believes we need to come up with a long term approach of value enhancement, reminding us that “the idea of workers owning America is one that people don’t understand.” Presently, there are over 100 pension funds in the country. He says, “we invest in the market.”
Francis Byrd tells us that board governance has now changed dramatically. “Share holders are far more interested in oversight of management and risk, strategic planning. They are on top of management, a huge dramatic change.”
Follow the link to McCuistion TV to watch the panel discussion or watch it below.
[flv:http://media.blubrry.com/mccuistiontv/www.frtv.org/wp-content/uploads/1800/1807CorporateGov.flv 350 250]
Tags: corporate governance, McCuistion TV, u.s. government
