Verret Testifies on Hill, Appears on The News Hour with Jim Lehrer
Professor J.W. Verret closed out the month of July with visits to Capitol Hill and to The News Hour with Jim Lehrer.
On July 29, Verret testified at a hearing of the Senate Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment on Protecting Shareholders and Enhancing Public Confidence by Improving Corporate Governance. Subcommittee members and witnesses discussed the issue of corporate governance and the make up and behaviors of corporate boards.
In his testimony, Verret voiced concern that recent corporate governance proposals impede shareholder voice in corporate elections, leaving no room for investors to design corporate governance structures suited to their particular circumstances and preventing a shareholder majority from rejecting the federal approach.
"Corporate governance is the foundation of American capital markets," Verret said. "If this Committee tinkers with the American corporate governance system merely for the appearance of change, it risks irreparable damage to that foundation." Listen to the hearing
On July 31, Verret appeared on The News Hour with Jim Lehrer, where he discussed the executive compensation bill that recently passed in the House of Representatives. The program contains Verret's segment at approximately the 38 minute mark.