Replies to post #96100 on DD Support Board and Research Team

[zeptepi]

I remember reading somewhere the main purpose of the Board of Directors is to select a CEO to run the company.

Do their duties change with each individual company, or is there a standard list of duties?

Thanks in advance.

[Realityhurts]

Did they ever misinterpret the market's reaction to the numbers?

I've wondered at times how many trades based on inside information end up losing money.

[Carini]

"In a few cases, I've compared the delivery times on the tracking information on each shipment and can match the time of receipt by a specific board member to trading activity that takes place within an hour later by 'other' entities."

Now that is awesome. (Not the insider trading; the clever way of tracking it.)

[integral]

You do bring up very valid points. In many cases I am familiar with, Board Books are emailed in well in advance for review even before they are final and bound. Problem is in corporate governance, we have exec. and non exec. members. The exec members get the email versions where the non get the bound copies weeks later. Unless they get copied via email or demand it for review.

I appreciate your post, because it helps institute better controls for clients in the future.

I just tossed out an office full of old board books, all nicely bound. Just sitting there. Comes into question, who prepares them, where they are prepared, who has access to them, how are they destroyed. As you know, you have a shredding policy, in house and outsourced. Low level documents are put in a lock box for outsourcing, and highly sensitive docs are shredded in house.

But nothing like have multiple lock boxes taking up office space for a $10 hour working to pick it up and shred it for you.

It is all about Internal Control Policy and ethics.


Then again, nothing like a company paying an office manager $35 per hour to shred docs.