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.
Thursday, September 14, 2006
Estee Lauder's Wrist Slap
Estee Lauder (NYSE:EL) announced marginally reduced bonuses for William and Leonard Lauder. (The two big guys at Estee) The reduced bonuses amount to a mild slap on the wrist for seriously declining performance. Do they own so much stock that the Board cannot objectively provide the necessary direction. When the tide is rising all looks well. Will corporate governance issues slip as Estee has performance problems.