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Friday, May 9, 2008
Atlantans come home with ideas from Denver
The Atlanta Journal-Constitution
Upon their return from three days understanding how Denver works, metro Atlanta leaders were motivated to change how we do business here.
For starters, the group of about 110 leaders on the annual LINK trip want to make sure the region is permitted to go to voters to ask for a one-cent sales tax increase. At the very least, they want to be sure that the 2009 General Assembly will not stand in the region’s way as they did this past session.
The Denver trip showed the contrast. Although the state of Colorado is not that supportive of the Denver metro area, it does not stand in the way of the region passing local initiatives to pay for improving the city’s quality of life - be it the development of transit or support for the arts and cultural institutions.
In each case, the metro counties in Denver have joined together to pass a sales tax (for transportation, it’s 4 cents on $10 and for the arts, it’s 1 cent on $10). Georgia has never permitted local governments to pass fractions of a sales tax.
Denver also showed metro Atlanta leaders how well regional cooperation can work - especially when the city and the suburbs realize how important they are to each other.
Do you have any thoughts on what the Atlanta region can do to get the state of Georgia to let the metro area have greater control of its own destiny?
More on the LINK trip:
• Read comments from some of those who were on the trip.
• See who went on the trip [PDF]
• The Atlanta Regional Commission also covered the trip.
• Read my whole column reflecting on the LINK trip.
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After 26 years, John Clendenin retires from Equifax’s board; fellow director Jackie Ward reflects on life, career
The Atlanta Journal-Constitution
John Clendenin, BellSouth’s retired CEO, has served on Equifax’s board longer than he has on any other board. But, as of today’s annual meeting, Clendenin is stepping down after 26 years on the board of the information services company.
Clendenin, 73, already had agreed to stay on beyond the normal retirement age of 70, and his term was scheduled to retire two years from now.
But Clendenin felt it was time to leave.
“I’m way over the retirement age,” he said after the meeting before running to catch a plane.
When thanking him for his service to Equifax, CEO Rick Smith said Clendenin had mentored his fellow board members and “tolerated five different CEOs and chairmen.”
In three weeks, Clendenin said he will step down from Kroger’s board, where he’s been since 1986. According to the Equifax proxy, he continues to serve on the boards of Home Depot, Acuity Brands and Powerwave Technologies.
Before leaving, Clendenin said he was leaving the company in good hands.
“I think Rick is doing a terrific job,” Clendenin said. “And the company has a top-notched talent pool.”
The company currently is reviewing possible candidates to fill Clendenin’s spot on the board. Incidentally, the company has not had a black director since Louis Sullivan, former president of the Morehouse School of Medicine, stepped down several years ago.
Meanwhile, legendary woman executive Jackie Ward, who has been on Equifax’s board since 1999, told friends that she now has a great-granddaughter as of four weeks ago.
“She’s a real doll, but she’s mean as a snake,” Ward laughed. Asked how it felt to be a great-grandmother, Ward said: “There aren’t any differences except you have a new little life out there.”
Ward, retired CEO of Computer Generation, still spends most of her time traveling on business. She serves on the boards of Bank of America, Flowers Foods Inc., Sanmina-SCI Corp., SYSCO Corp. and WellPoint Inc.
When people ask her if she’s ever going to retire, Ward, 69, will answer: “I don’t know how.”
There’s some other news in her life. Her husband, Lee Davis, 41, became a professional race car driver six months ago. He is part of the KONI circuit and is with the Kinetic team.
Asked if she attends his races, Ward said: “I’ve been to one.”
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Equifax weathering economic storm….so far
The Atlanta Journal-Constitution
Equifax CEO Rick Smith first painted a bleak economic picture for his shareholders at today’s annual meeting.
And then he delivered a rather rosy outlook for Equifax in 2008, estimating revenue growth to be between 9 percent and 12 percent.
“These are unprecedented times,” Smith said before commending Equifax employees for “a great performance” during a difficult year.
Despite Equifax’s relatively strong financial results, two non-binding shareholder propsals opposed by the company passed with solid majorities.
The first, presented by the American Federation of State, County and Muncipal Empoyees Pension Plan, called for all of Equifax’s directors to be elected on an annual basis. Currently Equifax’s directors serve on staggered three-year terms.
That proposal passed by 66.5 percent of shares cast.
The second shareholder proposal, presented by the United Brotherhood of Carpenters Pension Fund, called for directors to be elected by a majority of votes cast. Currently, Equifax’s directors can be elected by a plurality of votes.
That proposal passed by 61.7 percent of shares cast.
Smith told shareholders that the “board of directors will, in due course, consider whether those two proposals are in the best interest” of the company and its shareholders.
