Jane Brown, an avid online shopper in New Mexico, is delighted to find just the candleholders she needs on discounted sale on LuvLee Living, a home décor website based out of New York. She orders a pair, but when the package arrives, she feels they are not as described on the website. She attempts to return them, but is told by LuvLee that sale items are “as is” and non-returnable as per their website’s terms of use. Brown protests that she did not agree to any such terms. LuvLee responds that their terms of use are posted on the site and can be viewed by clicking a link. By browsing the LuvLee Living site, the retailer contends, Brown agreed to the terms of use. Further, should Brown wish to pursue the matter, she will be bound by arbitration under New York jurisdiction, even though she resides far from New York, because such stipulation was also in the terms of use.
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On September 18 the Securities and Exchange Commission (SEC) proposed to require public companies to calculate and disclose the pay ratio between their principal executive officer (PEO) and other employees:
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Tags:
Corporate Governance,
Business & Legal,
SEC,
Accounting & Tax
The greenhouse gas cap-and-trade program overseen by California’s Air Resources Board (ARB), which began earlier this year, not only allows for use of approved offsets to meet a portion of an entity’s emission reduction requirements. Entities will soon also be able to comply with the program by participating in its counterpart in the Canadian province of Quebec. By January 1, 2014, ARB’s cap-and-trade program will be linked with Quebec’s. A press release from ARB sums up key features of the linkage:
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Tags:
Health & Safety,
Environmental risks,
Environmental,
EPA,
Greenhouse Gas,
ghg
Do you know what's in the chemical products you buy and use, and whether they're "safe?" Effective October 1, 2013, California regulations provide criteria and procedures for state-level identification and listing of likely-hazardous chemicals of concern. Manufacturers and importers will be required to evaluate chemicals of concern in consumer products, their potential alternatives, and how best to limit exposure or reduce hazards. Assemblers and retailers will have related responsibilities. Although these requirements apply directly only within California, any reviews and reformulations are likely to affect global production and distribution decisions.
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Tags:
Health & Safety,
California Legislation,
Environmental,
EHS,
EPA,
Hazcom
Directors and officers owe formal duties to their corporations and shareholders, commonly called “fiduciary duties” from the Latin root words for “trust.” These duties developed over centuries of common law, and now appear in state corporation codes. Most interpretations of these duties and how to meet them actually appear in court decisions, arising in cases where aggrieved shareholders sue claiming that a company’s directors and/or officers have breached one or more of these duties.
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Tags:
Corporate Governance,
Business & Legal,
SEC,
SOX
