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DUN & BRADSTREET - INVESTOR
DECISIONS FOR 2000
NYSSA Corporate Governance
Forum
In an expansion
of its new program demonstrating the applications of professional analytical
methods to corporate governance issues, the New York Society of Security
Analysts' Committee for Corporate Governance is organizing a Forum to
examine investment decisions concerning shareholders of The Dun & Bradstreet
Corporation.
Investor and
media attention has recently been focused on issues raised by D&B's largest
shareholder, Harris Associates (manager of the Oakmark Funds), seeking
changes in D&B's governance. NYSSA is in a unique position to provide both
sides with a fair and open forum for these and other issues which may be
considered by shareholders, and has invited both D&B and its dissident
investor to participate based on written "Conditions" for the presentation
of all views. Applying the skill resources of NYSSA's members, the relevant
views will be considered as elements of investment decisions by three work
groups of volunteer analysts:
·
Strategic
Alternatives Group: to
identify and analyze alternative uses of assets in terms of shareholder
value.
·
Board
Qualifications Group:
to evaluate the ability of the board to establish strategic goals and
monitor the performance of executive officers, including specific review of
individual director candidates.
·
Shareholder
Rights Group: to
consider the available means and effective ability of shareholders to
exercise their rights.
Because of
widespread interest generated by the NYSSA's pilot governance analysis of
National Presto Industries, as well as the widespread interest in the issues
concerning D&B shareholders, the NYSSA Committee is inviting members of
other analyst societies to participate in the D&B Forum work groups.
Prospective volunteers may seek additional information from the NYSSA's
Director of Seminars and Special Events, Nancy R. Cass (212/912-9249 ext.
13).
There will also
be some opportunity for public involvement in the D&B Forum. Each work
group will schedule an open meeting in February or March to invite
suggestions and viewpoints from anyone interested in the issues. Finally,
written presentations and comments of the work group analysts, together with
anything submitted to the D&B Forum by D&B and Harris Associates, will be
made available to the public on April 6, 2000.
As a
not-for-profit educational organization established by and for Wall Street's
professional securities analysts, the NYSSA provides programs of interest to
investment decision-makers. The NYSSA's recently reactivated Committee for
Corporate Governance under its new Chairman, Peter F. Brennan, is directly
responsible for the D&B Forum. Gary Lutin, the investment banker who was
the co-sponsor and adviser to the NYSSA Committee's pilot forum with
National Presto, has also agreed to co-sponsor the D&B Forum and to serve as
its adviser.
December 14, 1999
Peter F. Brennan, Chairman, NYSSA
Committee for Corporate Governance
(c/o MidCap
Investors LLC, 50 Broad Street, New York, NY 10004; 212/668-3033)
Gary Lutin, Forum adviser and
co-sponsor
(c/o Lutin &
Company, 575 Madison Avenue, New York, NY 10022; 212/605-0335)
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