Media Mentions
2008
Howard Steinberg was quoted in an April 21 article published by Investment Dealers Digest regarding shareholders voicing their opinions on executive compensation. Mr. Steinberg noted that there is a rigorous decision making process by the board compensation committee regarding appropriate executive pay. "There is a high level of sensitivity in terms of what the committee is doing, and they realize that they are dealing with a hot button issue that concerns shareholders," he said.
Howard E. Steinberg, Corporate, Public Companies
2007
Howard E. Steinberg was mentioned in a November 10 article published by PR Newswire regarding the M&A International Media Awards 2007. Mr. Steinberg was a member of the judging panel, which was made up of senior mergers and acquisitions experts from around the world and included representatives of business, academia and the media.
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard E. Steinberg was quoted in a September 17 article by Business Week regarding the the recent trend of banks backing out of financing plans for corporate buyout, putting the deal's fate into jeopardy. The trend comes as Wall Street banks are increasingly concerned about getting stuck holding billions of dollars in buyout-related debt. "The banks may be finding it a little easier to renegotiate or walk away from the lower-profile deals," commented Mr. Steinberg. With smaller buyouts, he said, banks are less wary of hurting their reputations or relations with clients by pulling back on funding commitments.This story was also reported in Canadian Business, CNN Money, Morning Star Mutual Funds, and The Long Island Business News.
Howard E. Steinberg, Restructuring & Insolvency
Howard Steinberg was quoted in the April edition of CFO Magazine in relation to potential issues that companies encounter in divestitures. Mr. Steinberg points out, "Where you have, in the acquired firm, a well-integrated company in terms of systems, accounting and other issues, you may run into problems." He later goes on to explain the one common unintended consequence of these transactions is the difficulty retaining talented executives from the acquired company as responsibilities are shifted or removed. "An operating person, in the retained portion of the business, may have jurisdiction over a part being sold."
Howard E. Steinberg, Corporate
Howard Steinberg was quoted in the March 13 issue of Dow Jones in an article regarding the recent trend in which mutual funds are starting to shake up the companies in which they invest by beginning to protest merger deals and pushing to change corporate boards. While too early to know their impact, mutual funds have a great amount of say because they tend to be the largest shareholders of the public companies' stock, but it is a matter of whether or not they speak up. "Mutual fund activism is still so new and limited, when it does occur people pay attention," commented Mr. Steinberg.
Howard E. Steinberg, Corporate
Howard Steinberg was quoted by Dow Jones on March 13 regarding the recent trend in which mutual funds are starting to shake up the companies in which they invest by beginning to protest merger deals and pushing to change corporate boards. While too early to know their impact, mutual funds have a great amount of say because they tend to be the largest shareholders of the public companies' stock but it is a matter of whether or not they speak up. "Mutual fund activism is still so new and limited, when it does occur people pay attention," commented Mr. Steinberg.
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard Steinberg was quoted by The New York Times on January 5 in regard to the recent shake up by activist shareholders. "Activist shareholders have a power and audience beyond what they've ever enjoyed. They're developing a credible track record, and as a result, more and more managers are forced to engage with them. Activists' time has come," commented Mr. Steinberg.
Howard E. Steinberg, Corporate
2006
Howard Steinberg was quoted by Corporate Secretary in their November issue regarding the recent decisions of various directors who have chosen to speak to the media before they speak to their board of directors regarding various issues/problems within their company.
Howard E. Steinberg, Corporate, Corporate Responsibility
Howard Steinberg was quoted by Dow Jones on September 28 regarding the banking industry embarking on the private equity market.
Howard E. Steinberg, Corporate, Private Equity
Howard Steinberg was quoted by Dow Jones on May 9 regarding his prediction that more banks will acquire thrifts in part because they want to be able to offer new mortgage products.
Howard E. Steinberg, Corporate
Howard Steinberg was quoted by Dow Jones on May 9 regarding his prediction that more banks will acquire thrifts in part because they want to be able to offer new mortgage products.
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard Steinberg was quoted in the May issue of Corporate Secretary regarding fairness opinions. "They were not unknown before then [Delaware Supreme Court ruling], but after that they became quite common," commented Howard.
Howard E. Steinberg, Corporate
Howard Steinberg was quoted in the May issue of Corporate Secretary regarding fairness opinions. "They were not unknown before then [Delaware Supreme Court ruling], but after that they became quite common," commented Mr. Steinberg.
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard Steinberg was quoted in the May 1 issue of Dow Jones Hedge Fund Trades on the New York Stock Exchange's investigation of a major investment bank that may have given preferential trading treatment to a hedge fund it operates. Specifically in regards to the conflict of interest in this environment, Mr. Steinberg said, "These issues have been around forever but may look more prominent today, because firms are doing more proprietary trading than ever."
Howard E. Steinberg, Corporate
Howard Steinberg was quoted in the May 1 issue of Dow Jones Hedge Fund Trades on the New York Stock Exchange's investigation of a major investment bank that may have given preferential trading treatment to a hedge fund it operates. Specifically in regards to the conflict of interest in this environment, Mr. Steinberg said, "These issues have been around forever but may look more prominent today, because firms are doing more proprietary trading than ever."
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard Steinberg was quoted in the April 25 issue of Dow Jones on the NYSE investigating major broker over hedge fund conflicts and possible preferential trading treatment. "These issues have been around forever, but may look more prominent today, because firms are doing more proprietary trading than ever," commented Mr. Steinberg.
Howard E. Steinberg, Corporate
Howard Steinberg was quoted in the April 25 issue of Dow Jones on the NYSE investigating major broker over hedge fund conflicts and possible preferential trading treatment. "These issues have been around forever, but may look more prominent today, because firms are doing more proprietary trading than ever," commented Mr. Steinberg.
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard Steinberg was quoted in the March 24 issue of The Wall Street Journal on Sovereign Bancorp Inc. and Relational's settlement deal on a 12- member board. "While having a board seat will put them [Relational] in the information flow...in terms of really affecting outcomes, it's hard to see how one director really does it," commented Mr. Steinberg. The article also ran on MarketWatch.com and on Dow Jones.
Howard E. Steinberg, Corporate, Corporate Responsibility
2005
Howard Steinberg was quoted by Dow Jones on November 21 in regard to the NYSE's push for a compromise in Sovereign Bancorp's three-way deal with a Spanish bank and a New York thrift.
Howard E. Steinberg, Corporate
Howard Steinberg was quoted in M&A Report on September 26 in an article about change-in-control payouts (CIC's) to executives in mergers. Due to recent acquisitions where the chairman or CEO's of companies have been given these golden parachutes of CIC's and have returned to companies, governance professionals are now revaluating the way that these payments are handled. "I think that good governance people are becoming more and more concerned with the concept of the necessity of golden parachutes, particularly as to those executives who can collect a big paycheck and continue employment," Mr. Steinberg said. In light of recent corporate scandals, corporate boards shy away from "any kind of pay package that looks like a windfall for executives," he said. "There's likely to be a moderating trend in the way parachutes are structured."
Howard E. Steinberg, Corporate, Mergers & Acquisitions
Howard Steinberg was quoted in the September 2 issue of Dow Jones Newswire in regard to skepticism felt over the planned acquisition of Hibernia Corp. by Capital One Financial Corp.
