» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
TDN Services
Research millions of people and properties [+]
Monitor any person, property or company [+]

Skip Navigation LinksHome >
VOL. 131 | NO. 146 | Friday, July 22, 2016

Business Leaders Offer List of Corporate Best Practices

The Associated Press

Print | Front Page | Email this story | Comments ()

OMAHA, Neb. (AP) – Billionaire Warren Buffett and several other prominent business leaders have released a group of recommendations for improving corporate governance.

The list of best practices includes recommendations to choose board members from diverse backgrounds who are independent of a company's management.

The group also suggests public companies should avoid the common practice of offering earnings guidance.

Buffett said on CNBC that forecasting earnings, which he doesn't do, can lead to malpractice because executives have an incentive to tweak results just to match the CEO's forecast.

The group's full recommendations are available online at www.governanceprinciples.org . Buffett says the report is designed to encourage discussions about governance.

Buffett says JP Morgan Chase CEO Jamie Dimon organized the group, which included General Motors CEO Mary Barra, General Electric CEO Jeff Immelt and several others.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047
FORECLOSURE NOTICES 0 19 170
BUILDING PERMITS 28 305 3,056
BANKRUPTCIES 25 98 716
BUSINESS LICENSES 4 26 302
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0