Download Analysis and Implications of the New Proxy Voting Rules by Burton Rothberg, Steven Lilien PDF

By Burton Rothberg, Steven Lilien

The SEC issued ideas that might have an effect on company governance within the US. the 1st calls for all funding businesses to incorporate of their registration statements a disclosure of the approaches and rules they'll use in balloting on company proxies. the second one calls for funding businesses to post all in their genuine proxy votes. This document describes the various coverage and process disclosures required by way of the foundations and discusses the results for company governance and shareholder participation in company decision-making.

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34 Financial Executives Research Foundation, Inc. A number of years may elapse before a particular matter, for which we have established a reserve, is audited and finally resolved. The number of years with open tax audits varies depending on the tax jurisdiction. In the United States, the audits for 1991 through 1993 remain open for certain items and the Internal Revenue Service is currently examining our tax returns for 1994 through 1997. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, we believe that our reserves reflect the probable outcome of known tax contingencies.

The specific warranty terms and conditions vary depending upon the product sold and country in which Dell does business, but generally includes technical support, repair parts and labor and a period ranging from 90 days to three years. Factors that affect Dell’s warranty liability include the number of installed units currently under warranty, historical and anticipated rates of warranty claims on those units and cost per claim to satisfy Dell’s warranty obligation. The anticipated rate of warranty claims is the primary factor impacting Dell’s estimated warranty obligation.

Our effective tax rate is based on expected income, statutory tax rates and tax planning opportunities available to us in the various jurisdictions in which we operate. Significant judgment is required in determining our effective tax rate and in evaluating our tax positions. We establish reserves when, despite our belief that our tax return positions are fully supportable, we believe that certain positions are likely to be challenged and that we may not succeed. We adjust these reserves in light of changing facts and circumstances, such as the progress of a tax audit.

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