Administration April 6, 2002

ISS Rates Corporate Governance

June 4, 2002 (PLANSPONSOR.com) - In an era when corporate governance issues have never been more widely publicized, Institutional Shareholder Services (ISS) is offering institutional investors an evaluation of publicly-traded companies' corporate governance levels.
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ISS, which provides proxy voting and corporate governance advice to institutional investors, said in a press release that it began the rating system Tuesday, according to a Dow Jones news report.

The ratings are scored from 1 to 100, with 100 being a perfect score, and are based on seven aspects of corporate governance, from executive and director compensation to board structure and composition.

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Each company will receive two scores: One that rates the company, and one that rates it compared to its peers.

Examples of practices that will lead to higher scores include having a majority of independent directors on a board, having significant director and officer stock ownership, and providing director education at an accredited institution.

ISS said it will initially rate all companies in the Russell 3000 Index and will eventually extend coverage to global companies.

The ratings will be available on the front page of each ISS proxy analysis, and the firm’s database of scores will be searchable by institutional clients, said a spokeswoman.

Benefits April 5, 2002

DoL to Unveil Ergonomic Guidelines

April 5, 2002 (PLANSPONSOR.com) - The Labor Department will develop voluntary guidelines for certain industries to cut down on workplace injuries, replacing the Clinton-era regulations rejected by Congress last year, the Associated Press reports.
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Labor Secretary Elaine Chao said the new plan was an improvement on the older regulations because “it will prevent ergonomics injuries before they occur and reach a much larger number of at-risk workers.”

The four-part plan includes a move by the Occupational Safety and Health Administration (OSHA) to develop voluntary guidelines aimed at certain industries and certain tasks in the within six months.

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In addition, OSHA plans to:

  • research injury rates across industry sectors and determine to determine which would benefit from the guidelines
  • train certain staff on workplace hazards
  • appoint 10 regional coordinators manage enforcement and outreach
  • offer training grants to help address workplace injuries
  • set up an Internet site to promote safety and prevention
  • target Hispanics and immigrant workers, many of whom work in industries with high rates of ergonomics hazards
  • develop an advisory committee to study ergonomics and identify areas that need attention.

Enforcement efforts will not focus on employers that have already implemented effective ergonomics programs or who are trying to reduce ergonomics hazards, the AP report said.

 

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