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If he is not present, the board can make decisions only with his permission or if he is sick. The clause explicitly excludes this being allowed during “any confinement against his will”, suggesting he could maintain control even in jail. “We can’t think of any other company that has such articles,” said Jamie Allen, general secretary of the Asian Corporate Governance Association. “I find it baffling. Liu already has weighted voting rights, so he can control the company, he is the founder. I don’t think any of the board would dare make a decision without him, so why would he need to do this?” said Allen.
JD.com board members did not respond to requests for comment, The company declined to comment on questions concerning governance and its initial response to Liu’s arrest, Other critics of the company have pointed to rose gold double knot cufflinks the difficulties in identifying Liu’s strongest lieutenants, should he be unable to continue leading the company, “You see only Richard Liu’s footprints all over the company, That’s why you look at the senior management team – who is No.2? Can you name the No.2 in JD?” said Wong Kok Hoi, founder and CIO of APS Asset Management, who presented his arguments for shorting JD.com at a hedge fund conference in Hong Kong in May..
The post of chief operating officer at JD.com has been vacant since Shen Haoyu, who had been in the role since 2011 and was in charge of the firm’s main JD Mall business, stepped back from the job in 2016. He has since left the firm and moved to Hillhouse Capital. Jacob Williams, corporate governance manager for the Florida State Board of Administration, which oversees pension assets including about 158,000 JD.com shares, said Liu’s tight control of the company means more risk for outside investors when problems crop up.
“It really does create restrictions for minority shareholders in terms of what options we have available,” he said, such as making it harder to remove the CEO or to change directors, Little would change unless larger JD.com shareholders weigh in, Williams said, “It definitely helps for rose gold double knot cufflinks the company to hear from shareholders, It will take more than a few shareholders to weigh in in order for the message to get through,” he said, Funds with the largest stakes in JD.com include the Dodge & Cox International Stock Fund and Vanguard funds including the Vanguard Emerging Markets Stock Index Fund, Representatives for both firms declined to comment on Liu’s arrest or JD.com’s ownership structure..
(Reuters) - U.S. job growth accelerated in August, with wages notching their largest annual increase in nine years, strengthening views the economy was so far weathering the Trump administration’s escalating trade war with China. Nonfarm payrolls surged by 201,000 jobs last month, boosted by hiring at construction sites, wholesalers and professional and business services, the Labor Department said on Friday. The unemployment rate was unchanged from July at 3.9 percent. ** U.S. AUG NONFARM PAYROLLS +201,000 (CONSENSUS +191,000) VS JULY +147,000 (PREV +157,000), JUNE +208,000 (PREV +248,000).
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QUINCY KROSBY, CHIEF MARKET STRATEGIST, PRUDENTIAL FINANCIAL, NEWARK, NEW JERSEY (by email). “The August payroll report was strong and broad based, while the three-month average was a healthy 180,000 new jobs.”. “In particular, with wage growth climbing higher at 2.9 percent year over year, the S&P futures edged lower, as expectations are now gaining for a fourth, December rate hike.”. “This report is particularly interesting because August is typically a weaker month for employment gains.”.
LARRY HATHEWAY, CHIEF ECONOMIST, GAM INVESTMENT MANAGEMENT, ZURICH, “The news today is average hourly earnings, There were some consensus estimates that had been dropping after ADP around the payroll number to maybe 180,000, but I wouldn’t read too much into it, The real rose gold double knot cufflinks number that people will be focusing on is the payroll number, maybe alongside the fact that the participation rate got back down to 62.7 percent, ie the market is not easing, It’s not like we’re getting convincing signs of a wave of people who are out of the market coming into it, so supply conditions are a little bit tighter and that’s being reflected in this number..