Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Tuesday, December 06, 2005
Time Warner vs Lazard
Strange and Quiet resignations. Robert C Clark resigns from the Lazard Ltd board so that he can stay on the Time Warner board. Lazard has been hired by Icahn to help with their efforts to restructure Time Warner. It took a full week for Mr. Clark to resign from Lazard after the announcement. A full week is much too long for a director to figure out what his responsibilities are. It took a full week to determine where loyalties lay. Just a bit too messy for my taste.